Leonteq Securities AG Has $981,000 Position in Western Alliance Bancorporation $WAL

Leonteq Securities AG lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2,531.7% during the first quarter, HoldingsChannel reports. The firm owned 13,843 shares of the financial services provider’s stock after purchasing an additional 13,317 shares during the period. Leonteq Securities AG’s holdings in Western Alliance Bancorporation were worth $981,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Clearstead Advisors LLC boosted its stake in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the period. Community Bank N.A. acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $37,000. Los Angeles Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $38,000. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $45,000. Finally, Allworth Financial LP boosted its position in shares of Western Alliance Bancorporation by 39.3% in the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

WAL has been the topic of a number of research reports. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group reissued an “overweight” rating and issued a $105.00 price target on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Keefe, Bruyette & Woods raised their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. UBS Group boosted their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Western Alliance Bancorporation from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Western Alliance Bancorporation Stock Performance

WAL opened at $81.40 on Friday. The stock has a market cap of $8.89 billion, a PE ratio of 9.48, a P/E/G ratio of 0.64 and a beta of 1.34. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The stock’s 50 day simple moving average is $79.92 and its 200-day simple moving average is $81.67.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The firm had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. During the same period last year, the business earned $1.79 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 31.0% compared to the same quarter last year. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.81 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.42 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio is currently 19.56%.

Insider Activity at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.