Zurcher Kantonalbank Zurich Cantonalbank Buys 2,804 Shares of Western Alliance Bancorporation (NYSE:WAL)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 11.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,549 shares of the financial services provider’s stock after acquiring an additional 2,804 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Western Alliance Bancorporation were worth $2,218,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC lifted its position in Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 114 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its position in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares in the last quarter. Versant Capital Management Inc lifted its position in Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 157 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock valued at $1,359,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 3.4 %

Western Alliance Bancorporation stock opened at $77.31 on Monday. The firm has a 50 day simple moving average of $85.53 and a 200 day simple moving average of $86.19. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last issued 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 net margin of 15.49% and a return on equity of 13.14%. On average, analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WAL shares. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company decreased 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 research note on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, UBS Group started coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given 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 an average price target of $98.07.

About Western Alliance Bancorporation

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.