GW&K Investment Management LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 618,729 shares of the financial services provider’s stock after acquiring an additional 5,609 shares during the quarter. GW&K Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $24,434,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Neuberger Berman Group LLC boosted its position in Western Alliance Bancorporation by 49.6% during the third quarter. Neuberger Berman Group LLC now owns 7,203 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 2,389 shares during the last quarter. Banco Santander S.A. acquired a new stake in Western Alliance Bancorporation during the third quarter valued at $792,000. Fox Run Management L.L.C. acquired a new stake in Western Alliance Bancorporation during the fourth quarter valued at $258,000. Handelsbanken Fonder AB boosted its position in Western Alliance Bancorporation by 32.3% during the fourth quarter. Handelsbanken Fonder AB now owns 753,842 shares of the financial services provider’s stock valued at $29,769,000 after purchasing an additional 183,842 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Western Alliance Bancorporation during the third quarter valued at $967,000. 83.16% of the stock is owned by institutional investors and hedge funds.
In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 2,370 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $46.09, for a total transaction of $109,233.30. Following the transaction, the executive vice president now directly owns 9,179 shares in the company, valued at $423,060.11. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.48% of the stock is owned by company insiders.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, January 24th. The financial services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Western Alliance Bancorporation had a return on equity of 18.22% and a net margin of 40.48%. The company had revenue of $281.97 million for the quarter, compared to analyst estimates of $262.36 million. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue was up 23.4% compared to the same quarter last year. Analysts anticipate that Western Alliance Bancorporation will post 4.7 earnings per share for the current fiscal year.
A number of analysts recently issued reports on WAL shares. SunTrust Banks reduced their price objective on Western Alliance Bancorporation to $63.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Stephens reissued a “buy” rating and set a $60.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, December 12th. Citigroup raised Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $56.00 to $53.00 in a research report on Tuesday, January 15th. TheStreet cut Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Finally, ValuEngine cut Western Alliance Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $63.67.
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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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