Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,384 shares of the financial services provider’s stock after acquiring an additional 1,886 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Western Alliance Bancorporation were worth $1,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $1,312,000. Strs Ohio increased its stake in Western Alliance Bancorporation by 35.3% in the fourth quarter. Strs Ohio now owns 86,600 shares of the financial services provider’s stock valued at $5,697,000 after purchasing an additional 22,600 shares during the period. WCM Investment Management LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $12,387,000. Simplicity Solutions LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $212,000. Finally, Cerity Partners LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $403,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Stephens restated an “overweight” rating and issued a $82.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Barclays dropped their price target on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $70.56.

Western Alliance Bancorporation Trading Down 1.3 %

Shares of WAL opened at $58.58 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The firm’s 50-day moving average is $59.33 and its two-hundred day moving average is $56.85. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23. The firm has a market capitalization of $6.45 billion, a P/E ratio of 8.54 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. During the same period in the prior year, the business posted $2.30 earnings per share. On average, research analysts predict that Western Alliance Bancorporation will post 7.67 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

About Western Alliance Bancorporation

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.