AlphaMark Advisors LLC Invests $3.08 Million in Western Alliance Bancorporation (WAL)

AlphaMark Advisors LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,957 shares of the financial services provider’s stock, valued at approximately $3,077,000. AlphaMark Advisors LLC owned 0.05% of Western Alliance Bancorporation as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cerebellum GP LLC acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $124,000. American International Group Inc. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $124,000. MAI Capital Management acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $208,000. Timber Hill LLC acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $208,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $212,000. Institutional investors and hedge funds own 83.98% of the company’s stock.

In other news, Chairman Robert Gary Sarver sold 67,057 shares of Western Alliance Bancorporation stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $59.95, for a total value of $4,020,067.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sung Won Sohn sold 2,500 shares of Western Alliance Bancorporation stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 5,310 shares of the company’s stock, valued at approximately $318,600. The disclosure for this sale can be found here. In the last three months, insiders sold 90,307 shares of company stock valued at $5,417,324. Insiders own 7.95% of the company’s stock.

WAL has been the topic of several recent research reports. ValuEngine upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Wells Fargo upgraded shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a research note on Monday, January 29th. Barclays reiterated a “buy” rating and issued a $70.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $68.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $66.79.

Shares of WAL stock opened at $62.11 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. Western Alliance Bancorporation has a 1 year low of $61.33 and a 1 year high of $62.09. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.57.

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

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

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