Axxcess Wealth Management LLC Acquires New Holdings in Western Alliance Bancorporation (NYSE:WAL)

Axxcess Wealth Management LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,712 shares of the financial services provider’s stock, valued at approximately $495,000.

Several other institutional investors and hedge funds also recently modified their holdings of WAL. JCSD Capital LLC lifted its stake in Western Alliance Bancorporation by 17.7% in the 4th quarter. JCSD Capital LLC now owns 79,688 shares of the financial services provider’s stock valued at $5,243,000 after buying an additional 12,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at $1,216,000. Vaughan Nelson Investment Management L.P. increased its position in Western Alliance Bancorporation by 103.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock worth $113,510,000 after purchasing an additional 876,413 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $641,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Western Alliance Bancorporation by 42.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,754 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 3,480 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Ratings Changes

WAL has been the subject of a number of recent research reports. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company boosted their price target on Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price target on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered their price objective on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Finally, DA Davidson reduced their target price on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.27.

Insiders Place Their Bets

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the sale, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.75% of the stock is currently owned by insiders.

Western Alliance Bancorporation Trading Up 1.9 %

Shares of NYSE:WAL traded up $1.53 during trading on Friday, reaching $81.39. 1,542,252 shares of the stock were exchanged, compared to its average volume of 1,342,379. The firm’s 50-day moving average price is $64.50 and its 200 day moving average price is $62.11. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $81.90. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 14.18%. The company had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. During the same period in the previous year, the firm earned $1.96 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 7.37 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.82%. The ex-dividend date was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

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.