Cetera Investment Advisers Grows Stake in Western Alliance Bancorporation $WAL

Cetera Investment Advisers grew its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 27.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,304 shares of the financial services provider’s stock after purchasing an additional 1,364 shares during the period. Cetera Investment Advisers’ holdings in Western Alliance Bancorporation were worth $484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HWG Holdings LP bought a new stake in Western Alliance Bancorporation in the first quarter worth $25,000. Tsfg LLC purchased a new stake in Western Alliance Bancorporation in the first quarter worth about $33,000. UMB Bank n.a. grew its holdings in Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 482 shares during the period. Larson Financial Group LLC grew its holdings in shares of Western Alliance Bancorporation by 144.5% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,013 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Western Alliance Bancorporation by 53.3% during the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider’s stock valued at $168,000 after buying an additional 758 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 1.6%

WAL stock opened at $82.59 on Monday. The company has a fifty day moving average price of $79.40 and a 200 day moving average price of $77.32. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The firm had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same quarter in the prior year, the firm earned $1.75 EPS. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.8%. Western Alliance Bancorporation’s dividend payout ratio is presently 19.97%.

Analysts Set New Price Targets

WAL has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a “buy” rating and a $95.00 price target on the stock. Citigroup boosted their target price on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Stephens reiterated an “overweight” rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, Barclays boosted their price objective on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus price target of $96.62.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the transaction, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. This represents a 9.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.75% of the company’s stock.

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.