Silver Oak Securities Incorporated Takes Position in Western Alliance Bancorporation (NYSE:WAL)

Silver Oak Securities Incorporated acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,866 shares of the financial services provider’s stock, valued at approximately $1,159,000.

Other hedge funds have also recently bought and sold shares of the company. Retirement Systems of Alabama bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $11,461,000. Franklin Resources Inc. lifted its holdings in Western Alliance Bancorporation by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after purchasing an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Western Alliance Bancorporation during the third quarter worth approximately $5,099,000. BNP Paribas Financial Markets grew its holdings in Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after purchasing an additional 31,214 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter valued at approximately $623,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Up 2.1 %

Shares of Western Alliance Bancorporation stock opened at $90.61 on Friday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The firm has a market capitalization of $9.97 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company’s fifty day moving average price is $87.49 and its two-hundred day moving average price is $84.80.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, analysts expect that Western Alliance Bancorporation will post 9.11 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on WAL shares. Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

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.