Mariner LLC Buys 13,811 Shares of Western Alliance Bancorporation (WAL)

Mariner LLC raised its holdings in Western Alliance Bancorporation (NYSE:WAL) by 21.7% in the 1st quarter, Holdings Channel reports. The fund owned 77,468 shares of the financial services provider’s stock after acquiring an additional 13,811 shares during the period. Mariner LLC’s holdings in Western Alliance Bancorporation were worth $4,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WAL. BlackRock Inc. raised its holdings in Western Alliance Bancorporation by 18.0% in the 1st quarter. BlackRock Inc. now owns 5,361,669 shares of the financial services provider’s stock valued at $311,565,000 after acquiring an additional 817,211 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $29,732,000. Westwood Holdings Group Inc. raised its holdings in Western Alliance Bancorporation by 22.5% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,816,826 shares of the financial services provider’s stock valued at $159,490,000 after acquiring an additional 516,722 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Western Alliance Bancorporation by 63.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,182,705 shares of the financial services provider’s stock valued at $68,726,000 after acquiring an additional 460,154 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Western Alliance Bancorporation by 46.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 999,696 shares of the financial services provider’s stock valued at $58,093,000 after acquiring an additional 318,269 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

In related news, Chairman Robert Gary Sarver sold 6,185 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $60.72, for a total value of $375,553.20. Following the completion of the sale, the chairman now directly owns 67,921 shares in the company, valued at approximately $4,124,163.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $62.26, for a total value of $186,780.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,185 shares of company stock valued at $1,042,333. Insiders own 7.48% of the company’s stock.

Several research analysts have weighed in on WAL shares. UBS Group started coverage on Western Alliance Bancorporation in a report on Wednesday, March 21st. They issued a “buy” rating and a $70.00 price target for the company. ValuEngine downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Saturday, April 7th. Sandler O’Neill reiterated a “buy” rating and issued a $68.00 price target on shares of Western Alliance Bancorporation in a report on Friday, April 20th. Finally, Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $66.79.

WAL stock opened at $62.17 on Thursday. The firm has a market cap of $6.61 billion, a PE ratio of 20.05, a PEG ratio of 1.19 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.91. Western Alliance Bancorporation has a 52 week low of $44.83 and a 52 week high of $64.06.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $226.90 million during the quarter, compared to the consensus estimate of $232.59 million. Western Alliance Bancorporation had a return on equity of 16.18% and a net margin of 37.80%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. analysts forecast that Western Alliance Bancorporation will post 4.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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

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