Parkside Financial Bank & Trust Decreases Stake in Western Alliance Bancorporation (NYSE:WAL)

Parkside Financial Bank & Trust decreased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 69.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 653 shares of the financial services provider’s stock after selling 1,454 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Western Alliance Bancorporation were worth $55,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Proficio Capital Partners LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $7,377,000. Amalgamated Bank boosted its stake in Western Alliance Bancorporation by 0.3% during the fourth quarter. Amalgamated Bank now owns 52,097 shares of the financial services provider’s stock worth $4,352,000 after buying an additional 177 shares during the last quarter. South Dakota Investment Council grew its holdings in Western Alliance Bancorporation by 10.5% in the 4th quarter. South Dakota Investment Council now owns 83,864 shares of the financial services provider’s stock valued at $7,006,000 after buying an additional 8,000 shares in the last quarter. TCW Group Inc. grew its holdings in Western Alliance Bancorporation by 46.9% in the 4th quarter. TCW Group Inc. now owns 41,099 shares of the financial services provider’s stock valued at $3,433,000 after buying an additional 13,119 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its stake in shares of Western Alliance Bancorporation by 44.4% in the 4th quarter. Wolverine Asset Management LLC now owns 3,458 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL opened at $84.04 on Tuesday. The stock’s 50-day moving average price is $86.79 and its 200 day moving average price is $86.34. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.63 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results 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 net margin of 15.49% and a return on equity of 13.14%. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.81%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WAL shares. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. Stephens restated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Barclays upped their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.07.

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.