Stock Traders Buy High Volume of Call Options on Western Alliance Bancorporation (WAL)

Western Alliance Bancorporation (NYSE:WAL) was the target of unusually large options trading activity on Monday. Traders purchased 568 call options on the stock. This represents an increase of approximately 831% compared to the average volume of 61 call options.

In related news, EVP Robert Reoch Mcauslan sold 2,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $44.97, for a total transaction of $89,940.00. Following the sale, the executive vice president now owns 15,611 shares in the company, valued at approximately $702,026.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randall S. Theisen sold 6,358 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total transaction of $293,548.86. Following the sale, the executive vice president now owns 39,869 shares in the company, valued at approximately $1,840,751.73. The disclosure for this sale can be found here. Insiders have sold a total of 74,709 shares of company stock worth $3,482,744 in the last quarter. 7.72% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in WAL. Wellington Management Group LLP raised its stake in shares of Western Alliance Bancorporation by 38.2% during the first quarter. Wellington Management Group LLP now owns 3,840,715 shares of the financial services provider’s stock valued at $157,622,000 after acquiring an additional 1,061,744 shares during the last quarter. Davis Capital Partners LLC raised its stake in shares of Western Alliance Bancorporation by 200.0% during the first quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock valued at $61,560,000 after acquiring an additional 1,000,000 shares during the last quarter. Norges Bank bought a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at $33,692,000. Two Sigma Investments LP raised its stake in shares of Western Alliance Bancorporation by 95.1% during the fourth quarter. Two Sigma Investments LP now owns 950,458 shares of the financial services provider’s stock valued at $37,534,000 after acquiring an additional 463,273 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Western Alliance Bancorporation by 73.2% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 921,950 shares of the financial services provider’s stock valued at $37,837,000 after acquiring an additional 389,640 shares during the last quarter. 83.02% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on WAL shares. Wells Fargo & Co increased their price objective on shares of Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, March 6th. Finally, ValuEngine raised shares of Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.88.

Shares of WAL stock traded up $0.13 during trading hours on Wednesday, hitting $43.63. 407,945 shares of the company’s stock traded hands, compared to its average volume of 602,135. The company has a market capitalization of $4.60 billion, a P/E ratio of 10.54, a PEG ratio of 0.82 and a beta of 1.57. Western Alliance Bancorporation has a 12 month low of $37.39 and a 12 month high of $64.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.93 and a current ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.06. The firm had revenue of $259.90 million during the quarter, compared to the consensus estimate of $266.48 million. Western Alliance Bancorporation had a net margin of 40.08% and a return on equity of 17.84%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 4.74 earnings per share for the current fiscal year.

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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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