APG Asset Management N.V. purchased a new position in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 96,900 shares of the financial services provider’s stock, valued at approximately $4,569,000. APG Asset Management N.V. owned 0.09% of Western Alliance Bancorporation at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Cerebellum GP LLC purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at about $124,000. Canada Pension Plan Investment Board bought a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $133,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at about $202,000. Dearborn Partners LLC bought a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $205,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $212,000. 81.85% of the stock is owned by hedge funds and other institutional investors.
In other Western Alliance Bancorporation news, Director Marianne Boyd Johnson sold 4,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the completion of the sale, the director now directly owns 3,295 shares in the company, valued at approximately $179,313.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Randall S. Theisen sold 2,942 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total transaction of $173,578.00. Following the sale, the executive vice president now owns 39,321 shares of the company’s stock, valued at $2,319,939. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,942 shares of company stock valued at $560,338. 7.95% of the stock is owned by company insiders.
Western Alliance Bancorporation (NYSE:WAL) traded down $0.22 during mid-day trading on Tuesday, hitting $57.70. 35,352 shares of the stock traded hands, compared to its average volume of 735,875. Western Alliance Bancorporation has a 1 year low of $44.64 and a 1 year high of $60.71. The stock has a market capitalization of $6,107.70, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17.
Western Alliance Bancorporation (NYSE:WAL) last released 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. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.82%. The firm had revenue of $224.72 million during the quarter, compared to analyst estimates of $225.19 million. During the same period last year, the business earned $0.70 earnings per share. analysts forecast that Western Alliance Bancorporation will post 4.01 earnings per share for the current year.
A number of brokerages have recently issued reports on WAL. DA Davidson reaffirmed a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, October 23rd. Zacks Investment Research reissued a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a research note on Saturday, January 6th. Sandler O’Neill reissued a “buy” rating and issued a $69.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Stephens began coverage on Western Alliance Bancorporation in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 target price on the stock. Finally, Barclays raised their target price on Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One investment 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. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $66.59.
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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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