3,216 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by Simplicity Solutions LLC

Simplicity Solutions LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,216 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WAL. Harbour Investments Inc. raised its holdings in shares of Western Alliance Bancorporation by 400.7% during the first quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 557 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth $28,000. State of Wyoming raised its holdings in shares of Western Alliance Bancorporation by 54.7% during the second quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 277 shares during the period. Advisory Services Network LLC raised its holdings in shares of Western Alliance Bancorporation by 118.2% during the first quarter. Advisory Services Network LLC now owns 993 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 538 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Western Alliance Bancorporation by 422.2% during the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 760 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Wedbush lowered their price target on shares of Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday. Stephens reiterated an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $78.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.36.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $57.44 on Monday. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 8.37 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The company has a 50-day simple moving average of $59.50 and a 200 day simple moving average of $56.60. Western Alliance Bancorporation has a 52 week low of $11.35 and a 52 week high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same quarter in the previous year, the firm posted $2.30 EPS. On average, sell-side analysts predict that Western Alliance Bancorporation will post 7.87 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s payout ratio is 21.57%.

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.