Silver Oak Securities Incorporated Acquires Shares of 13,866 Western Alliance Bancorporation (NYSE:WAL)

Silver Oak Securities Incorporated bought a new position in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, HoldingsChannel reports. The fund bought 13,866 shares of the financial services provider’s stock, valued at approximately $1,159,000.

A number of other hedge funds have also made changes to their positions in WAL. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter valued at about $33,000. UMB Bank n.a. lifted its position in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after buying an additional 249 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. DA Davidson reduced their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Up 2.1 %

Western Alliance Bancorporation stock opened at $90.61 on Friday. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.61 and a beta of 1.46. The company’s 50 day simple moving average is $87.49 and its 200 day simple moving average is $84.80.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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 anticipate that Western Alliance Bancorporation will post 9.11 EPS for the current year.

Western Alliance Bancorporation 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.