WCM Investment Management LLC Makes New $12.39 Million Investment in Western Alliance Bancorporation (NYSE:WAL)

WCM Investment Management LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 184,329 shares of the financial services provider's stock, valued at approximately $12,387,000. WCM Investment Management LLC owned about 0.17% of Western Alliance Bancorporation as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Guggenheim Capital LLC increased its position in shares of Western Alliance Bancorporation by 3.2% during the 1st quarter. Guggenheim Capital LLC now owns 4,831 shares of the financial services provider's stock valued at $400,000 after purchasing an additional 151 shares during the last quarter. Utah Retirement Systems grew its position in Western Alliance Bancorporation by 1.1% in the 1st quarter. Utah Retirement Systems now owns 18,511 shares of the financial services provider's stock valued at $1,534,000 after acquiring an additional 200 shares during the last quarter. Riverwater Partners LLC grew its position in Western Alliance Bancorporation by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider's stock valued at $1,920,000 after acquiring an additional 211 shares during the last quarter. Harbour Investments Inc. grew its position in Western Alliance Bancorporation by 33.8% in the 2nd quarter. Harbour Investments Inc. now owns 931 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Western Alliance Bancorporation by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider's stock valued at $2,182,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 1.4 %

Western Alliance Bancorporation stock traded down $0.78 during midday trading on Friday, reaching $56.67. The company's stock had a trading volume of 884,893 shares, compared to its average volume of 1,067,182. The stock's 50-day simple moving average is $59.80 and its 200-day simple moving average is $56.18. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 52-week low of $11.35 and a 52-week high of $70.23. The stock has a market capitalization of $6.24 billion, a P/E ratio of 8.67 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Friday, January 26th. The financial services provider reported $1.91 EPS for the quarter, missing analysts' consensus estimates of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $705.97 million. During the same quarter last year, the business posted $2.67 earnings per share. On average, sell-side analysts expect that Western Alliance Bancorporation will post 7.88 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation's dividend payout ratio is presently 22.63%.

Wall Street Analyst Weigh In

WAL has been the topic of several research analyst reports. Citigroup upped their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, January 29th. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $72.00 to $68.00 and set an "equal weight" rating for the company in a report on Wednesday. DA Davidson reiterated a "buy" rating and issued a $85.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, March 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $78.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 9th. Finally, Barclays began coverage on Western Alliance Bancorporation in a report on Friday, March 8th. They issued an "overweight" rating and a $91.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.60.

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.