Proficio Capital Partners LLC Purchases New Holdings in Western Alliance Bancorporation (NYSE:WAL)

Proficio Capital Partners LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, Holdings Channel reports. The firm purchased 88,302 shares of the financial services provider’s stock, valued at approximately $7,377,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its position in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp increased its position in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the last quarter. Allworth Financial LP increased its position in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after buying an additional 215 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Western Alliance Bancorporation by 338.1% in the fourth quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock worth $57,000 after buying an additional 524 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $77.31 on Monday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The stock has a 50-day moving average of $85.53 and a 200 day moving average of $86.19. 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 company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share 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%. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on WAL. Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. 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 research note on Tuesday, January 7th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Stephens reiterated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

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.