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

Key Points

• Leonteq Securities AG boosted its stake in Western Alliance Bancorporation by 2,531.7% in the first quarter, ending with 13,843 shares valued at about $981,000.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 79.15% of the company’s stock. Several other firms also increased or initiated positions in WAL during the quarter.
• Western Alliance reported better-than-expected quarterly results, with EPS of $2.22 versus the $1.48 estimate and revenue up 31% year over year. The stock was recently trading around $81.40, and analysts currently have a Moderate Buy consensus with an average target price of $94.00.

Leonteq Securities AG raised its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2,531.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,843 shares of the financial services provider's stock after purchasing an additional 13,317 shares during the quarter. Leonteq Securities AG's holdings in Western Alliance Bancorporation were worth $981,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WAL. Pictet Asset Management Holding SA grew its holdings in shares of Western Alliance Bancorporation by 7.3% during the first quarter. Pictet Asset Management Holding SA now owns 17,304 shares of the financial services provider's stock valued at $1,226,000 after buying an additional 1,172 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Western Alliance Bancorporation in the 1st quarter worth about $2,111,000. Fifth Third Wealth Advisors LLC lifted its stake in Western Alliance Bancorporation by 4.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider's stock worth $237,000 after acquiring an additional 134 shares in the last quarter. SG Americas Securities LLC boosted its position in Western Alliance Bancorporation by 278.5% during the 1st quarter. SG Americas Securities LLC now owns 53,451 shares of the financial services provider's stock worth $3,787,000 after acquiring an additional 39,328 shares during the period. Finally, Brady Martz Wealth Solutions LLC grew its stake in Western Alliance Bancorporation by 65.6% during the 1st quarter. Brady Martz Wealth Solutions LLC now owns 6,991 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 2,770 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares of the company's stock, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.68% of the stock is owned by company insiders.

Western Alliance Bancorporation Stock Down 0.2%

WAL opened at $81.40 on Friday. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The business has a 50-day moving average of $79.92 and a 200-day moving average of $81.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81. The company has a market capitalization of $8.89 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating 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 business had revenue of $968.40 million during the quarter, compared to analysts' expectations of $944.18 million. During the same quarter in the previous year, the business posted $1.79 EPS. The firm's quarterly revenue was up 31.0% compared to the same quarter last year. Equities research analysts forecast that Western Alliance Bancorporation will post 9.81 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 yield of 2.1%. Western Alliance Bancorporation's payout ratio is 19.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WAL shares. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $86.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday. Piper Sandler decreased their price target on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an "overweight" rating for the company in a report on Monday, April 27th. Barclays lowered their price objective on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Finally, TD Cowen lowered shares of Western Alliance Bancorporation from a "buy" rating to a "hold" rating and set a $83.00 target price for the company. in a research note on Monday, March 9th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of "Moderate Buy" and an average price target of $94.00.

Western Alliance Bancorporation Company 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.

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