Western Alliance Bancorporation (NYSE:WAL) Position Trimmed by Buckley Wealth Management LLC

Buckley Wealth Management LLC lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 17.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,582 shares of the financial services provider’s stock after selling 560 shares during the period. Buckley Wealth Management LLC’s holdings in Western Alliance Bancorporation were worth $216,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP grew its position in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Atala Financial Inc bought a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $44,000. Institutional investors own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WAL. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $77.31 on Friday. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.63 and a beta of 1.43. The firm has a 50-day moving average of $85.53 and a two-hundred day moving average of $86.11.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

Western Alliance Bancorporation Company 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.