199,384 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 199,384 shares of the financial services provider’s stock, valued at approximately $13,118,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its holdings in Western Alliance Bancorporation by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 487 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Western Alliance Bancorporation by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 636,814 shares of the financial services provider’s stock worth $29,274,000 after purchasing an additional 18,178 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Western Alliance Bancorporation by 3.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,498 shares of the financial services provider’s stock valued at $988,000 after buying an additional 724 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Western Alliance Bancorporation in the third quarter valued at approximately $379,000. Finally, Strs Ohio acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $2,942,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.4 %

Shares of WAL traded down $0.27 during mid-day trading on Tuesday, reaching $62.16. 581,405 shares of the company were exchanged, compared to its average volume of 1,395,010. The stock has a market capitalization of $6.84 billion, a PE ratio of 9.06 and a beta of 1.47. The business has a 50 day simple moving average of $59.41 and a two-hundred day simple moving average of $57.82. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. Western Alliance Bancorporation has a 52 week low of $25.21 and a 52 week high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. During the same period last year, the business posted $2.30 EPS. On average, analysts predict that Western Alliance Bancorporation will post 7.57 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday, April 19th. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada cut their target price on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods reduced their price target on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $70.56.

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.