Proficio Capital Partners LLC Makes New $7.38 Million Investment in Western Alliance Bancorporation (NYSE:WAL)

Proficio Capital Partners LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 88,302 shares of the financial services provider’s stock, valued at approximately $7,377,000. Proficio Capital Partners LLC owned 0.08% of Western Alliance Bancorporation at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Atria Investments Inc lifted its position in Western Alliance Bancorporation by 2.2% during the 4th quarter. Atria Investments Inc now owns 10,927 shares of the financial services provider’s stock valued at $913,000 after purchasing an additional 240 shares during the period. Victory Capital Management Inc. lifted its position in Western Alliance Bancorporation by 66.2% during the 4th quarter. Victory Capital Management Inc. now owns 30,079 shares of the financial services provider’s stock valued at $2,513,000 after purchasing an additional 11,978 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $26,000. Norden Group LLC acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $727,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 117 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on WAL. JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. DA Davidson lowered their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Finally, Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $77.31 on Monday. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. 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 firm has a market capitalization of $8.54 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.63 and a beta of 1.43. The company’s 50 day moving average price is $85.53 and its two-hundred day moving average price is $86.19.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping 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, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.97%. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

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.