Cercano Management LLC Has $7.87 Million Holdings in Western Alliance Bancorporation $WAL

Cercano Management LLC lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 59.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 90,774 shares of the financial services provider’s stock after selling 132,555 shares during the period. Cercano Management LLC owned approximately 0.08% of Western Alliance Bancorporation worth $7,872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Western Alliance Bancorporation by 11.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock valued at $190,318,000 after purchasing an additional 223,425 shares in the last quarter. Geode Capital Management LLC raised its position in Western Alliance Bancorporation by 5.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,035,515 shares of the financial services provider’s stock valued at $158,755,000 after buying an additional 104,182 shares during the last quarter. Norges Bank bought a new position in Western Alliance Bancorporation during the 2nd quarter valued at $137,289,000. Smead Capital Management Inc. boosted its holdings in Western Alliance Bancorporation by 19.2% during the 2nd quarter. Smead Capital Management Inc. now owns 1,435,247 shares of the financial services provider’s stock worth $111,921,000 after acquiring an additional 231,159 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Western Alliance Bancorporation by 7.2% during the 2nd quarter. Bank of Montreal Can now owns 868,692 shares of the financial services provider’s stock worth $67,741,000 after acquiring an additional 58,660 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Up 1.7%

Western Alliance Bancorporation stock opened at $94.76 on Wednesday. The firm has a 50 day moving average price of $88.88 and a 200-day moving average price of $84.85. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $97.23. The company has a market capitalization of $10.43 billion, a P/E ratio of 10.85, a P/E/G ratio of 0.79 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.59 EPS for the quarter, topping 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 company had revenue of $980.90 million for the quarter, compared to analysts’ expectations of $912.69 million. During the same quarter in the previous year, the firm posted $1.95 EPS. Western Alliance Bancorporation’s revenue was up 17.0% on a year-over-year basis. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be paid 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 is presently 19.24%.

Analyst Ratings Changes

WAL has been the subject of several analyst reports. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, January 9th. UBS Group set a $106.00 target price on Western Alliance Bancorporation in a research note on Wednesday, February 4th. Finally, Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price 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.