Oliver Luxxe Assets LLC Grows Position in Western Alliance Bancorporation (NYSE:WAL)

Oliver Luxxe Assets LLC grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 5.2% during the 4th quarter, Holdings Channel reports. The fund owned 50,301 shares of the financial services provider’s stock after acquiring an additional 2,492 shares during the period. Oliver Luxxe Assets LLC’s holdings in Western Alliance Bancorporation were worth $4,202,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter valued at approximately $33,000. UMB Bank n.a. boosted its position in Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 249 shares during the last quarter. Blue Trust Inc. grew its stake in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the period. Finally, Covestor Ltd raised its holdings in Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WAL shares. UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Stephens restated an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.31.

Western Alliance Bancorporation Stock Down 0.6 %

Shares of NYSE:WAL traded down $0.54 during mid-day trading on Monday, hitting $83.86. 798,704 shares of the company traded hands, compared to its average volume of 747,485. The firm has a market cap of $9.23 billion, a P/E ratio of 12.94, a PEG ratio of 1.41 and a beta of 1.46. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The firm’s 50 day simple moving average is $88.71 and its 200 day simple moving average is $81.37. 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 posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, equities analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

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.