Lodestone Wealth Management LLC Reduces Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Lodestone Wealth Management LLC lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,563 shares of the financial services provider’s stock after selling 196 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Western Alliance Bancorporation were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after buying an additional 1,418,472 shares during the last quarter. FMR LLC boosted its stake in Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after buying an additional 1,347,921 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after buying an additional 506,778 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Western Alliance Bancorporation in the 3rd quarter worth about $39,230,000. Finally, Westfield Capital Management Co. LP acquired a new stake in Western Alliance Bancorporation in the 3rd quarter worth about $38,386,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL stock opened at $88.64 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The stock’s 50 day moving average is $86.96 and its two-hundred day moving average is $85.16. The company has a market capitalization of $9.76 billion, a PE ratio of 12.48, a P/E/G ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Analysts predict that Western Alliance Bancorporation will post 8.99 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.71%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target 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. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Barclays lifted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.07.

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.