CIBC Asset Management Inc acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,740 shares of the financial services provider’s stock, valued at approximately $212,000.
Other hedge funds have also recently modified their holdings of the company. Maltese Capital Management LLC grew its position in Western Alliance Bancorporation by 207.1% during the 3rd quarter. Maltese Capital Management LLC now owns 215,000 shares of the financial services provider’s stock worth $11,412,000 after acquiring an additional 145,000 shares during the last quarter. Aurora Investment Counsel acquired a new position in Western Alliance Bancorporation during the 4th quarter worth about $2,208,000. Chicago Equity Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth about $2,182,000. Cipher Capital LP lifted its holdings in Western Alliance Bancorporation by 17.3% during the 3rd quarter. Cipher Capital LP now owns 154,794 shares of the financial services provider’s stock worth $8,216,000 after buying an additional 22,779 shares during the period. Finally, Highbridge Capital Management LLC lifted its holdings in Western Alliance Bancorporation by 97.0% during the 3rd quarter. Highbridge Capital Management LLC now owns 203,370 shares of the financial services provider’s stock worth $10,795,000 after buying an additional 100,123 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.
WAL has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, January 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $68.00 target price on shares of Western Alliance Bancorporation in a report on Friday, January 26th. SunTrust Banks lifted their target price on Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $64.50 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Western Alliance Bancorporation presently has a consensus rating of “Buy” and a consensus price target of $66.59.
Western Alliance Bancorporation (NYSE:WAL) opened at $60.34 on Friday. The stock has a market capitalization of $6,370.00, a PE ratio of 19.46, a PEG ratio of 1.11 and a beta of 1.63. 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 $60.91.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $224.72 million for the quarter, compared to the consensus estimate of $225.19 million. Western Alliance Bancorporation had a return on equity of 15.82% and a net margin of 36.56%. During the same period in the previous year, the business earned $0.70 EPS. sell-side analysts predict that Western Alliance Bancorporation will post 4.01 earnings per share for the current fiscal year.
In other news, EVP Robert Reoch Mcauslan sold 3,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $56.36, for a total value of $169,080.00. Following the transaction, the executive vice president now directly owns 20,200 shares of the company’s stock, valued at approximately $1,138,472. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Randall S. Theisen sold 2,942 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the transaction, the executive vice president now directly owns 39,321 shares in the company, valued at $2,319,939. The disclosure for this sale can be found here. 7.95% of the stock is owned by insiders.
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About Western Alliance Bancorporation
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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