Pictet Asset Management Holding SA Grows Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Pictet Asset Management Holding SA increased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,111 shares of the financial services provider’s stock after buying an additional 742 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Western Alliance Bancorporation were worth $1,179,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth 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 acquiring an additional 117 shares during the period. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the period. Allworth Financial LP raised its stake in Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Western Alliance Bancorporation in the fourth quarter worth approximately $44,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Down 5.1 %

Shares of WAL opened at $61.95 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. The business has a fifty day moving average of $82.44 and a 200 day moving average of $85.63. The company has a market cap of $6.84 billion, a PE ratio of 8.73, a P/E/G ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its 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%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.45%. Western Alliance Bancorporation’s dividend payout ratio is 21.41%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WAL. DA Davidson lowered their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group initiated coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Stephens restated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.