AlphaMark Advisors LLC Sells 466 Shares of Western Alliance Bancorporation (NYSE:WAL)

AlphaMark Advisors LLC reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,443 shares of the financial services provider’s stock after selling 466 shares during the quarter. AlphaMark Advisors LLC’s holdings in Western Alliance Bancorporation were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in WAL. Harbour Investments Inc. grew its holdings in Western Alliance Bancorporation by 400.7% during the 1st quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock valued at $25,000 after buying an additional 557 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Western Alliance Bancorporation in the second quarter valued at $28,000. State of Wyoming grew its holdings in shares of Western Alliance Bancorporation by 54.7% in the second quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Western Alliance Bancorporation by 118.2% in the first quarter. Advisory Services Network LLC now owns 993 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 538 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth $43,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $64.19 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The business has a 50-day moving average price of $60.90 and a 200 day moving average price of $55.16. The company has a market capitalization of $7.07 billion, a P/E ratio of 9.81 and a beta of 1.46. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $705.97 million. During the same period in the previous year, the firm earned $2.67 EPS. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.9 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.31%. Western Alliance Bancorporation’s dividend payout ratio is presently 22.63%.

Analysts Set New Price Targets

Several research analysts have commented on WAL shares. Royal Bank of Canada lifted their price objective on shares of Western Alliance Bancorporation from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Citigroup lifted their price objective on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $72.00 price objective (up from $62.00) on shares of Western Alliance Bancorporation in a research note on Tuesday, January 30th. Finally, Barclays started coverage on Western Alliance Bancorporation in a research report on Friday, March 8th. They set an “overweight” rating and a $91.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.59.

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.