Tower Research Capital LLC TRC Buys 11,256 Shares of Western Alliance Bancorporation (NYSE:WAL)

Tower Research Capital LLC TRC grew its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 591.2% in the 4th quarter, Holdings Channel reports. The firm owned 13,160 shares of the financial services provider’s stock after acquiring an additional 11,256 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Western Alliance Bancorporation were worth $1,099,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Western Alliance Bancorporation during the fourth quarter worth approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after buying an additional 648,983 shares during the period. Principal Financial Group Inc. increased its stake in shares of Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock valued at $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Western Alliance Bancorporation by 973.1% during the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider’s stock valued at $35,239,000 after acquiring an additional 382,513 shares during the period. Finally, Invesco Ltd. boosted its stake in Western Alliance Bancorporation by 5.1% during the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider’s stock worth $479,207,000 after acquiring an additional 278,041 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

WAL has been the topic of several research reports. DA Davidson dropped their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Stephens reaffirmed an “overweight” rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday. Barclays reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

Western Alliance Bancorporation Stock Up 2.9 %

WAL opened at $70.72 on Friday. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The firm has a market capitalization of $7.81 billion, a P/E ratio of 9.96, a PEG ratio of 0.63 and a beta of 1.29. The company’s 50-day moving average is $74.98 and its 200 day moving average is $83.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to analysts’ expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter last year, the firm earned $1.72 EPS. Research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.15%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

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.