FDx Advisors Inc. grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 45.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,505 shares of the financial services provider’s stock after buying an additional 2,021 shares during the quarter. FDx Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $345,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $133,000. BNP Paribas Arbitrage SA grew its position in shares of Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,060 shares in the last quarter. Winfield Associates Inc. grew its position in shares of Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 20 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $212,000. Institutional investors and hedge funds own 81.82% of the company’s stock.
In other Western Alliance Bancorporation news, Director Marianne Boyd Johnson sold 4,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total transaction of $217,680.00. Following the transaction, the director now directly owns 3,295 shares in the company, valued at $179,313.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Gary Sarver sold 100,000 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was 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 in the company, 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. 7.95% of the stock is owned by company insiders.
Western Alliance Bancorporation (WAL) traded up $0.61 during trading on Thursday, hitting $58.70. The stock had a trading volume of 456,386 shares, compared to its average volume of 645,807. The firm has a market cap of $6,133.19, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $60.25.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The firm had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. During the same quarter in the previous year, the business earned $0.66 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. equities research analysts forecast that Western Alliance Bancorporation will post 3.07 EPS for the current year.
A number of equities analysts recently commented on WAL shares. Jefferies Group reissued 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 price target on shares of Western Alliance Bancorporation in a research note on Friday, September 8th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, September 5th. Barclays set a $62.00 price objective on Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, SunTrust Banks began coverage on Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.06.
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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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