Prudential Financial Inc. Has $1.72 Million Position in Western Alliance Bancorporation (WAL)

Prudential Financial Inc. decreased its position in Western Alliance Bancorporation (NYSE:WAL) by 25.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,383 shares of the financial services provider’s stock after selling 11,300 shares during the quarter. Prudential Financial Inc.’s holdings in Western Alliance Bancorporation were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Western Alliance Bancorporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock valued at $366,298,000 after acquiring an additional 195,031 shares during the last quarter. Swiss National Bank increased its stake in shares of Western Alliance Bancorporation by 6.3% during the 2nd quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock valued at $8,182,000 after acquiring an additional 9,900 shares during the last quarter. Nicholas Investment Partners LP increased its stake in shares of Western Alliance Bancorporation by 5.4% during the 2nd quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock valued at $6,612,000 after acquiring an additional 6,944 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Western Alliance Bancorporation by 532.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock valued at $35,521,000 after acquiring an additional 607,885 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Western Alliance Bancorporation by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock valued at $5,744,000 after acquiring an additional 859 shares during the last quarter. 81.82% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Robert Reoch Mcauslan sold 4,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $56.49, for a total transaction of $225,960.00. Following the completion of the transaction, the executive vice president now directly owns 23,200 shares in the company, valued at approximately $1,310,568. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert Gary Sarver sold 100,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $55.22, for a total value of $5,522,000.00. Following the transaction, the chief executive officer now owns 54,000 shares of the company’s stock, valued at $2,981,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,000 shares of company stock valued at $9,611,590. Company insiders own 7.95% of the company’s stock.

WAL has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 29th. Royal Bank Of Canada reissued a “buy” rating and set a $58.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, September 5th. Barclays set a $62.00 target price on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, SunTrust Banks started coverage on shares of Western Alliance Bancorporation in a research report on Friday, August 18th. They set a “buy” rating and a $59.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $62.06.

Western Alliance Bancorporation (WAL) traded down $0.05 during midday trading on Thursday, reaching $58.09. The company’s stock had a trading volume of 390,300 shares, compared to its average volume of 646,614. The stock has a market cap of $6,133.19, a PE ratio of 19.71, a PEG ratio of 1.67 and a beta of 1.76. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $60.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. Western Alliance Bancorporation’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. equities analysts anticipate that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

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Western Alliance Bancorporation 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.

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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