Sei Investments Co. boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 6.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 250,348 shares of the financial services provider’s stock after buying an additional 16,236 shares during the period. Sei Investments Co. owned 0.24% of Western Alliance Bancorporation worth $12,317,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in WAL. Winfield Associates Inc. boosted its position in shares of Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after buying an additional 20 shares in the last quarter. Investment Counselors of Maryland LLC bought a new stake in Western Alliance Bancorporation during the first quarter valued at approximately $186,000. Solaris Asset Management LLC boosted its stake in Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 50 shares in the last quarter. Parametrica Management Ltd bought a new stake in Western Alliance Bancorporation during the first quarter valued at approximately $200,000. Finally, Two Sigma Securities LLC bought a new stake in Western Alliance Bancorporation during the first quarter valued at approximately $211,000. 82.99% of the stock is currently owned by institutional investors.
Shares of Western Alliance Bancorporation (NYSE WAL) traded up 0.54% during midday trading on Friday, reaching $46.97. 458,053 shares of the company’s stock traded hands. The stock has a market cap of $4.89 billion, a P/E ratio of 16.96 and a beta of 1.73. Western Alliance Bancorporation has a 12 month low of $35.56 and a 12 month high of $53.84. The stock has a 50 day moving average of $49.53 and a 200-day moving average of $48.97.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The company had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same period last year, the firm earned $0.62 earnings per share. On average, equities research analysts forecast that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.
Several equities research analysts recently commented on the stock. BidaskClub cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Jefferies Group LLC cut their price objective on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, May 22nd. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, July 25th. SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a research report on Friday. They set a “buy” rating and a $59.00 price target on the stock. 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 report 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 company. The stock presently has a consensus rating of “Buy” and an average price target of $57.50.
In related news, Chairman Robert Gary Sarver sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.95% of the stock is owned by company insiders.
About Western Alliance Bancorporation
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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