Western Alliance Bancorporation (NYSE:WAL) Stock Holdings Lifted by Guggenheim Capital LLC

Guggenheim Capital LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 236.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,836 shares of the financial services provider's stock after purchasing an additional 6,206 shares during the quarter. Guggenheim Capital LLC's holdings in Western Alliance Bancorporation were worth $738,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its stake in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares during the period. Fifth Third Bancorp raised its position in shares of Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the period. Allworth Financial LP boosted its holdings in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 1.8 %

Shares of NYSE:WAL traded down $1.28 during midday trading on Wednesday, reaching $69.70. The company had a trading volume of 983,712 shares, compared to its average volume of 1,217,951. The stock has a market capitalization of $7.70 billion, a P/E ratio of 9.82, a PEG ratio of 0.63 and a beta of 1.29. The stock's fifty day moving average price is $73.36 and its 200-day moving average price is $83.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the previous year, the firm earned $1.72 EPS. Equities research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Stephens restated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Royal Bank of Canada lowered their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, DA Davidson reduced their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

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.