Artemis Investment Management LLP boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,032 shares of the financial services provider’s stock after acquiring an additional 67,995 shares during the quarter. Artemis Investment Management LLP owned about 0.45% of Western Alliance Bancorporation worth $25,871,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Liberty Wealth Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. lifted its position in Western Alliance Bancorporation by 415.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,371 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,105 shares during the period. Ingalls & Snyder LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $202,000. Campbell & CO Investment Adviser LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $205,000. Finally, Opus Capital Group LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $248,000. 81.00% of the stock is owned by institutional investors.
WAL opened at $57.56 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50 day simple moving average of $55.71 and a 200-day simple moving average of $48.76. The stock has a market capitalization of $5.86 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.77 and a beta of 1.69. Western Alliance Bancorporation has a 12 month low of $38.55 and a 12 month high of $58.13.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $288.90 million during the quarter, compared to analysts’ expectations of $281.83 million. Western Alliance Bancorporation had a return on equity of 17.65% and a net margin of 39.08%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. Research analysts anticipate that Western Alliance Bancorporation will post 4.78 EPS for the current year.
Several analysts have recently commented on WAL shares. Piper Jaffray Companies set a $62.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, October 21st. Stephens set a $55.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Thursday, October 17th. SunTrust Banks reduced their price target on Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Zacks Investment Research reissued a “buy” rating and issued a $64.00 price target on shares of Western Alliance Bancorporation in a report on Saturday. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $58.83.
In other news, Director Todd Marshall sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $50.18, for a total value of $1,003,600.00. Following the completion of the sale, the director now directly owns 27,096 shares of the company’s stock, valued at approximately $1,359,677.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 75,000 shares of company stock valued at $3,901,650 over the last three months. Insiders own 7.72% of the company’s stock.
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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