Buckley Wealth Management LLC Takes Position in Western Alliance Bancorporation (NYSE:WAL)

Buckley Wealth Management LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,142 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Advisor Networks LLC increased its holdings in shares of Western Alliance Bancorporation by 5.2% in the first quarter. Cetera Advisor Networks LLC now owns 4,984 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 247 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at approximately $504,000. MetLife Investment Management LLC acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at approximately $374,000. Dimensional Fund Advisors LP increased its holdings in shares of Western Alliance Bancorporation by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,071,776 shares of the financial services provider’s stock valued at $88,776,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Western Alliance Bancorporation by 13.8% in the first quarter. Sei Investments Co. now owns 126,197 shares of the financial services provider’s stock valued at $10,440,000 after purchasing an additional 15,297 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $85.00 price target on shares of Western Alliance Bancorporation in a report on Thursday, March 21st. Barclays assumed coverage on Western Alliance Bancorporation in a research note on Friday, March 8th. They set an “overweight” rating and a $91.00 target price for the company. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Wells Fargo & Company reissued an “equal weight” rating and set a $72.00 target price (up previously from $62.00) on shares of Western Alliance Bancorporation in a research note on Tuesday, January 30th. Finally, Citigroup raised their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.59.

Western Alliance Bancorporation Trading Up 4.4 %

Shares of NYSE WAL traded up $2.73 during trading on Wednesday, reaching $64.22. The stock had a trading volume of 778,043 shares, compared to its average volume of 1,568,106. The company has a market cap of $7.08 billion, a P/E ratio of 9.82 and a beta of 1.46. The business’s 50-day moving average price is $60.84 and its 200-day moving average price is $54.92. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $705.97 million. Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. During the same quarter last year, the business posted $2.67 earnings per share. On average, equities research analysts predict that Western Alliance Bancorporation will post 7.9 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.30%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.63%.

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 three segments: Commercial, Consumer Related, and Corporate & Other. 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.