SG Americas Securities LLC Invests $1.10 Million in Western Alliance Bancorporation (NYSE:WAL)

SG Americas Securities LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,275 shares of the financial services provider's stock, valued at approximately $1,097,000.

Several other large investors have also made changes to their positions in WAL. New York State Teachers Retirement System increased its stake in shares of Western Alliance Bancorporation by 11.5% in the 4th quarter. New York State Teachers Retirement System now owns 20,331 shares of the financial services provider's stock worth $1,698,000 after acquiring an additional 2,093 shares during the last quarter. Rhumbline Advisers raised its position in Western Alliance Bancorporation by 0.4% in the 4th quarter. Rhumbline Advisers now owns 301,937 shares of the financial services provider's stock valued at $25,224,000 after purchasing an additional 1,352 shares in the last quarter. Principal Securities Inc. raised its position in Western Alliance Bancorporation by 338.1% in the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 524 shares in the last quarter. Allworth Financial LP raised its position in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Western Alliance Bancorporation by 0.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 36,258 shares of the financial services provider's stock worth $3,029,000 after acquiring an additional 327 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

WAL traded up $0.93 during trading on Friday, reaching $73.31. 1,312,626 shares of the stock were exchanged, compared to its average volume of 1,219,380. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 0.55 and a beta of 1.29. The business's 50 day moving average price is $72.17 and its two-hundred day moving average price is $79.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. The firm had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same period in the prior year, the firm posted $1.72 earnings per share. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. DA Davidson cut their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Royal Bank Of Canada cut their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Barclays cut their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group assumed coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $97.77.

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.