Western Alliance Bancorporation (WAL) Shares Bought by First Trust Advisors LP

First Trust Advisors LP boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 43.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 304,046 shares of the financial services provider’s stock after purchasing an additional 92,057 shares during the quarter. First Trust Advisors LP owned approximately 0.29% of Western Alliance Bancorporation worth $17,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Western Alliance Bancorporation by 5.9% in the second quarter. Millennium Management LLC now owns 2,599,584 shares of the financial services provider’s stock valued at $147,162,000 after acquiring an additional 144,811 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Western Alliance Bancorporation by 5.6% in the second quarter. Epoch Investment Partners Inc. now owns 1,248,569 shares of the financial services provider’s stock valued at $70,681,000 after acquiring an additional 65,864 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Western Alliance Bancorporation by 15.6% in the second quarter. Eagle Asset Management Inc. now owns 1,017,747 shares of the financial services provider’s stock valued at $57,614,000 after acquiring an additional 137,047 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Western Alliance Bancorporation by 3.6% in the second quarter. Glenmede Trust Co. NA now owns 900,681 shares of the financial services provider’s stock valued at $50,987,000 after acquiring an additional 31,043 shares in the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Western Alliance Bancorporation by 15.8% in the second quarter. Carillon Tower Advisers Inc. now owns 720,585 shares of the financial services provider’s stock valued at $40,792,000 after acquiring an additional 98,472 shares in the last quarter. Institutional investors own 83.52% of the company’s stock.

In other Western Alliance Bancorporation news, Director Michael Patriarca bought 2,140 shares of Western Alliance Bancorporation stock in a transaction that occurred on Wednesday, October 24th. The shares were purchased at an average cost of $46.78 per share, for a total transaction of $100,109.20. Following the completion of the transaction, the director now owns 8,875 shares of the company’s stock, valued at approximately $415,172.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.48% of the company’s stock.

Several brokerages have recently issued reports on WAL. Wells Fargo & Co set a $66.00 price objective on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. ValuEngine downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. SunTrust Banks reduced their price objective on Western Alliance Bancorporation to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. Finally, Royal Bank of Canada reduced their price objective on Western Alliance Bancorporation to $61.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.80.

NYSE WAL opened at $49.20 on Friday. Western Alliance Bancorporation has a twelve month low of $45.53 and a twelve month high of $64.06. The stock has a market cap of $5.17 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. Western Alliance Bancorporation had a return on equity of 17.27% and a net margin of 39.69%. The firm had revenue of $238.46 million for the quarter, compared to the consensus estimate of $247.04 million. During the same period in the prior year, the business posted $0.79 earnings per share. On average, equities analysts anticipate that Western Alliance Bancorporation will post 4.07 EPS for the current year.

WARNING: This report was first reported by WKRB News and is the property of of WKRB News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this report can be accessed at https://www.wkrb13.com/2018/11/09/western-alliance-bancorporation-wal-shares-bought-by-first-trust-advisors-lp.html.

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.

Recommended Story: The Role of a Fiduciary and Individual Investors

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

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply