Macquarie Group Ltd. raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 50.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,462 shares of the financial services provider’s stock after purchasing an additional 129,849 shares during the quarter. Macquarie Group Ltd. owned 0.37% of Western Alliance Bancorporation worth $19,063,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of Western Alliance Bancorporation by 72.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,060 shares in the last quarter. Winfield Associates Inc. grew its position in shares of Western Alliance Bancorporation by 0.6% in the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 20 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Western Alliance Bancorporation by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 469 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter worth approximately $207,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $212,000. Institutional investors own 81.23% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday. Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday. Barclays PLC set a $62.00 target price on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Western Alliance Bancorporation presently has a consensus rating of “Buy” and a consensus price target of $60.00.
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Western Alliance Bancorporation (WAL) opened at 53.03 on Friday. The stock has a 50 day moving average price of $49.85 and a 200 day moving average price of $48.64. Western Alliance Bancorporation has a 12 month low of $35.56 and a 12 month high of $54.29. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 19.15 and a beta of 1.75.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. The company had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same period in the prior year, the company posted $0.62 EPS. On average, equities analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.
In other news, Chairman Robert Gary Sarver sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total value of $4,837,000.00. Following the sale, the chairman now directly owns 54,000 shares in the company, valued at approximately $2,611,980. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.95% of the company’s stock.
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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