Solaris Asset Management LLC increased its position in Western Alliance Bancorporation (NYSE:WAL) by 21.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,850 shares of the financial services provider’s stock after buying an additional 850 shares during the period. Solaris Asset Management LLC’s holdings in Western Alliance Bancorporation were worth $239,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in Western Alliance Bancorporation during the fourth quarter worth $1,525,000. Guggenheim Capital LLC increased its stake in Western Alliance Bancorporation by 52.8% in the fourth quarter. Guggenheim Capital LLC now owns 20,666 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 7,141 shares during the period. Parametrica Management Ltd acquired a new stake in Western Alliance Bancorporation during the first quarter worth $200,000. Mountain Pacific Investment Advisers Inc. ID increased its stake in Western Alliance Bancorporation by 3.8% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 240,054 shares of the financial services provider’s stock worth $11,784,000 after buying an additional 8,754 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its stake in Western Alliance Bancorporation by 17.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,611 shares of the financial services provider’s stock worth $815,000 after buying an additional 2,478 shares during the period. 82.99% of the stock is owned by institutional investors.
Shares of Western Alliance Bancorporation (NYSE WAL) traded up 0.54% on Friday, reaching $46.97. 458,053 shares of the company were exchanged. Western Alliance Bancorporation has a 12 month low of $35.56 and a 12 month high of $53.84. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 16.96 and a beta of 1.73. The company’s 50-day moving average price is $49.53 and its 200 day moving average price is $48.97.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The company had revenue of $203.19 million during the quarter, compared to the consensus estimate of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same quarter last year, the firm posted $0.62 EPS. On average, equities research analysts expect that Western Alliance Bancorporation will post $3.04 EPS for the current year.
A number of equities research analysts recently weighed in on WAL shares. Keefe, Bruyette & Woods set a $58.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Barclays PLC reissued an “overweight” rating and set a $59.00 price target (up from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.50.
In other news, Chairman Robert Gary Sarver sold 65,448 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $2,721,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.95% of the company’s stock.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.
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