Smead Capital Management Inc. Has $115.62 Million Holdings in Western Alliance Bancorporation $WAL

Smead Capital Management Inc. lessened its position in Western Alliance Bancorporation (NYSE:WAL) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,333,236 shares of the financial services provider’s stock after selling 102,011 shares during the quarter. Western Alliance Bancorporation makes up about 2.2% of Smead Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Smead Capital Management Inc. owned 1.21% of Western Alliance Bancorporation worth $115,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated raised its stake in Western Alliance Bancorporation by 1.0% during the 3rd quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider’s stock valued at $1,242,000 after purchasing an additional 138 shares during the period. EJF Capital LLC grew its holdings in shares of Western Alliance Bancorporation by 2.5% during the second quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after buying an additional 149 shares in the last quarter. Salzhauer Michael grew its holdings in shares of Western Alliance Bancorporation by 0.3% during the third quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider’s stock valued at $3,886,000 after buying an additional 152 shares in the last quarter. Ethic Inc. raised its position in Western Alliance Bancorporation by 2.4% during the third quarter. Ethic Inc. now owns 6,955 shares of the financial services provider’s stock valued at $603,000 after buying an additional 161 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Western Alliance Bancorporation by 4.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 188 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $93.28 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $10.27 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.77 and a beta of 1.37. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $97.23. The company has a 50 day moving average price of $89.24 and a two-hundred day moving average price of $85.07.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $912.69 million. During the same quarter in the prior year, the business posted $1.95 EPS. Western Alliance Bancorporation’s quarterly 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 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.24%.

Analyst Ratings Changes

WAL has been the topic of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Western Alliance Bancorporation in a report on Monday, December 29th. Citigroup upped their price objective on shares of Western Alliance Bancorporation from $104.00 to $107.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Jefferies Financial Group increased their target price on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, DA Davidson boosted their price target on shares of Western Alliance Bancorporation from $104.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Eleven investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.73.

Western Alliance Bancorporation Company 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.