Verition Fund Management LLC Acquires 15,048 Shares of Western Alliance Bancorporation (WAL)

Verition Fund Management LLC increased its position in Western Alliance Bancorporation (NYSE:WAL) by 183.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,270 shares of the financial services provider’s stock after purchasing an additional 15,048 shares during the period. Verition Fund Management LLC’s holdings in Western Alliance Bancorporation were worth $1,318,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. American International Group Inc. bought a new position in Western Alliance Bancorporation in the 4th quarter worth about $124,000. Cerebellum GP LLC bought a new position in Western Alliance Bancorporation in the 4th quarter worth about $124,000. Canada Pension Plan Investment Board bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $133,000. MAI Capital Management bought a new position in Western Alliance Bancorporation in the 4th quarter worth about $208,000. Finally, Timber Hill LLC bought a new position in Western Alliance Bancorporation in the 4th quarter worth about $208,000. Institutional investors own 83.33% of the company’s stock.

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In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 2,942 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total transaction of $173,578.00. Following the transaction, the executive vice president now owns 39,321 shares in the company, valued at approximately $2,319,939. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Reoch Mcauslan sold 2,000 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $61.94, for a total transaction of $123,880.00. Following the completion of the transaction, the executive vice president now owns 25,603 shares in the company, valued at approximately $1,585,849.82. The disclosure for this sale can be found here. Insiders have sold a total of 81,602 shares of company stock worth $4,889,831 in the last 90 days. Company insiders own 7.95% of the company’s stock.

Western Alliance Bancorporation (WAL) opened at $60.71 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $6,359.04, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $62.49.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. The business had revenue of $224.72 million for the quarter, compared to analysts’ expectations of $225.19 million. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.50%. During the same quarter in the prior year, the business earned $0.70 EPS. equities research analysts forecast that Western Alliance Bancorporation will post 4.01 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on WAL. Sandler O’Neill reiterated a “buy” rating and issued a $69.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Stephens began coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 price target on the stock. Barclays upped their price target on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.59.

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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.

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

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