ETF Managers Group LLC lessened its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,947 shares of the financial services provider’s stock after selling 780 shares during the quarter. ETF Managers Group LLC’s holdings in Western Alliance Bancorporation were worth $367,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of WAL. JPMorgan Chase & Co. lifted its stake in Western Alliance Bancorporation by 5.5% in the third quarter. JPMorgan Chase & Co. now owns 1,832,108 shares of the financial services provider’s stock valued at $104,229,000 after purchasing an additional 95,626 shares during the last quarter. Bank of New York Mellon Corp grew its position in Western Alliance Bancorporation by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 459,863 shares of the financial services provider’s stock worth $26,161,000 after purchasing an additional 8,849 shares during the period. TIAA CREF Investment Management LLC grew its position in Western Alliance Bancorporation by 33.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 581,596 shares of the financial services provider’s stock worth $33,087,000 after purchasing an additional 144,196 shares during the period. Vanguard Group Inc lifted its stake in shares of Western Alliance Bancorporation by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 8,348,025 shares of the financial services provider’s stock valued at $474,919,000 after buying an additional 142,664 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Western Alliance Bancorporation by 4.1% during the 4th quarter. State of Alaska Department of Revenue now owns 18,414 shares of the financial services provider’s stock valued at $725,000 after buying an additional 718 shares in the last quarter. 83.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:WAL traded up $0.28 during midday trading on Friday, reaching $43.64. The company’s stock had a trading volume of 543,159 shares, compared to its average volume of 840,445. The firm has a market capitalization of $4.51 billion, a P/E ratio of 10.54, a PEG ratio of 0.80 and a beta of 1.62. Western Alliance Bancorporation has a twelve month low of $37.39 and a twelve month high of $62.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.06. The company had revenue of $259.90 million for the quarter, compared to analyst estimates of $266.48 million. Western Alliance Bancorporation had a net margin of 40.08% and a return on equity of 17.84%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. Equities analysts anticipate that Western Alliance Bancorporation will post 4.75 EPS for the current fiscal year.
WAL has been the topic of a number of research analyst reports. Wells Fargo & Co upped their target price on shares of Western Alliance Bancorporation from $53.00 to $58.00 and gave the stock 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 target price for the company in a research report on Wednesday, March 6th. Finally, ValuEngine raised shares of Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $59.13.
In other news, insider Robert Gary Sarver sold 66,351 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $46.71, for a total value of $3,099,255.21. Following the sale, the insider now owns 59,504 shares in the company, valued at $2,779,431.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.72% of the stock is owned by company insiders.
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About Western Alliance Bancorporation
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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