Pictet Asset Management SA Has $475,000 Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Pictet Asset Management SA lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL – Get Rating) by 8.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,226 shares of the financial services provider’s stock after purchasing an additional 538 shares during the quarter. Pictet Asset Management SA’s holdings in Western Alliance Bancorporation were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WAL. Maven Securities LTD raised its holdings in shares of Western Alliance Bancorporation by 5.3% in the 3rd quarter. Maven Securities LTD now owns 15,786 shares of the financial services provider’s stock valued at $1,038,000 after acquiring an additional 800 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Western Alliance Bancorporation by 5.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,850 shares of the financial services provider’s stock valued at $1,436,000 after purchasing an additional 1,048 shares during the period. Envestnet Asset Management Inc. raised its stake in Western Alliance Bancorporation by 2.5% during the third quarter. Envestnet Asset Management Inc. now owns 222,896 shares of the financial services provider’s stock valued at $14,653,000 after buying an additional 5,514 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Western Alliance Bancorporation by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,068,806 shares of the financial services provider’s stock worth $70,264,000 after purchasing an additional 10,720 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Western Alliance Bancorporation by 508.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,455 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 7,900 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on WAL. TheStreet upgraded Western Alliance Bancorporation from a “c+” rating to a “b” rating in a research report on Thursday, February 2nd. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $89.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 13th. Finally, Stephens upped their target price on Western Alliance Bancorporation from $80.00 to $86.00 in a research note on Thursday, January 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.75.

Western Alliance Bancorporation Stock Down 0.1 %

Western Alliance Bancorporation stock opened at $74.24 on Wednesday. Western Alliance Bancorporation has a twelve month low of $54.86 and a twelve month high of $93.49. The business has a fifty day moving average of $68.35 and a two-hundred day moving average of $69.14. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 1.42. The firm has a market cap of $8.14 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.70 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last issued its earnings results on Wednesday, January 25th. The financial services provider reported $2.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.67. The company had revenue of $701.20 million during the quarter, compared to analyst estimates of $733.13 million. Western Alliance Bancorporation had a return on equity of 22.00% and a net margin of 34.94%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $2.32 EPS. On average, analysts forecast that Western Alliance Bancorporation will post 10.34 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 17th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, February 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 14.85%.

Insider Activity

In related news, insider Tim R. Bruckner sold 1,750 shares of Western Alliance Bancorporation stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $73.16, for a total value of $128,030.00. Following the sale, the insider now directly owns 20,244 shares in the company, valued at approximately $1,481,051.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.57% of the company’s stock.

Western Alliance Bancorporation Company Profile

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.