Proficio Capital Partners LLC Acquires Shares of 88,302 Western Alliance Bancorporation (NYSE:WAL)

Proficio Capital Partners LLC acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 88,302 shares of the financial services provider's stock, valued at approximately $7,377,000. Proficio Capital Partners LLC owned approximately 0.08% of Western Alliance Bancorporation as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WAL. Creative Planning boosted its stake in shares of Western Alliance Bancorporation by 18.9% in the third quarter. Creative Planning now owns 6,843 shares of the financial services provider's stock worth $592,000 after acquiring an additional 1,087 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter worth approximately $253,000. DekaBank Deutsche Girozentrale boosted its stake in Western Alliance Bancorporation by 19.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,416 shares of the financial services provider's stock worth $290,000 after purchasing an additional 565 shares during the period. State of Alaska Department of Revenue purchased a new stake in Western Alliance Bancorporation during the 3rd quarter valued at approximately $1,096,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $1,577,000. 79.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stephens reiterated an "overweight" rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. UBS Group began coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a "buy" rating and a $115.00 price target for the company. Piper Sandler raised their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $98.07.

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Western Alliance Bancorporation Trading Down 3.0 %

Shares of Western Alliance Bancorporation stock traded down $2.46 during trading hours on Thursday, hitting $78.73. The company's stock had a trading volume of 364,191 shares, compared to its average volume of 1,184,109. The firm has a fifty day moving average of $86.65 and a 200-day moving average of $86.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.93%. Western Alliance Bancorporation's payout ratio is 21.41%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.