WCM Investment Management LLC Boosts Stock Position in Western Alliance Bancorporation $WAL

WCM Investment Management LLC lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 23.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 290,047 shares of the financial services provider’s stock after buying an additional 55,238 shares during the period. WCM Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $25,266,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC acquired a new position in Western Alliance Bancorporation during the third quarter worth $26,000. Quent Capital LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $27,000. Root Financial Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $27,000. Finally, Hantz Financial Services Inc. raised its position in shares of Western Alliance Bancorporation by 995.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 478 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $89.59 on Tuesday. The business’s 50 day moving average price is $86.51 and its 200 day moving average price is $83.84. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.76 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.79 and a current ratio of 0.83. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $93.81.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The business had revenue of $913.50 million during the quarter, compared to the consensus estimate of $912.69 million. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned $1.95 EPS. On average, research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WAL shares. Royal Bank Of Canada lifted their price objective on Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods lifted their price target on Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Jefferies Financial Group increased their price objective on Western Alliance Bancorporation from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western Alliance Bancorporation in a report on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.80.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.