Cercano Management LLC Trims Stock Holdings in Western Alliance Bancorporation $WAL

Cercano Management LLC lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 59.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,774 shares of the financial services provider’s stock after selling 132,555 shares during the period. Cercano Management LLC’s holdings in Western Alliance Bancorporation were worth $7,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WAL. Halbert Hargrove Global Advisors LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $26,000. Quent Capital LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth $26,000. Salomon & Ludwin LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth $27,000. Root Financial Partners LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter valued at $27,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 113.0% in the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 235 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $94.76 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $88.88 and a 200-day moving average price of $84.85. The company has a market cap of $10.43 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.79 and a beta of 1.37. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business had revenue of $980.90 million for the quarter, compared to the consensus estimate of $912.69 million. During the same period last year, the firm posted $1.95 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, February 20th. This represents a $1.68 annualized dividend and a dividend yield of 1.8%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.24%.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. iA Financial set a $101.00 price target on Western Alliance Bancorporation in a research report on Wednesday, January 28th. Citigroup raised their price objective on shares of Western Alliance Bancorporation from $104.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $105.00 price objective (up previously from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. Finally, UBS Group set a $106.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $103.73.

Western Alliance Bancorporation 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.