Tealwood Asset Management Inc. Buys 38,346 Shares of Western Alliance Bancorporation (WAL)

Tealwood Asset Management Inc. increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 191.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,329 shares of the financial services provider’s stock after acquiring an additional 38,346 shares during the quarter. Tealwood Asset Management Inc. owned approximately 0.06% of Western Alliance Bancorporation worth $2,394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Interstate Bank grew its holdings in shares of Western Alliance Bancorporation by 5.0% during the fourth quarter. First Interstate Bank now owns 5,925 shares of the financial services provider’s stock valued at $234,000 after buying an additional 280 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Western Alliance Bancorporation by 1.0% during the third quarter. Legal & General Group Plc now owns 47,593 shares of the financial services provider’s stock valued at $2,708,000 after buying an additional 492 shares in the last quarter. Banco Santander S.A. grew its holdings in shares of Western Alliance Bancorporation by 4.9% during the fourth quarter. Banco Santander S.A. now owns 14,604 shares of the financial services provider’s stock valued at $577,000 after buying an additional 679 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Western Alliance Bancorporation by 0.9% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 79,626 shares of the financial services provider’s stock valued at $3,144,000 after buying an additional 700 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Western Alliance Bancorporation by 4.1% during the fourth 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. Institutional investors and hedge funds own 84.69% of the company’s stock.

In other Western Alliance Bancorporation news, EVP Robert Reoch Mcauslan sold 2,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $44.97, for a total value of $89,940.00. Following the completion of the sale, the executive vice president now owns 15,611 shares of the company’s stock, valued at $702,026.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Randall S. Theisen sold 6,358 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total value of $293,548.86. Following the completion of the sale, the executive vice president now directly owns 39,869 shares of the company’s stock, valued at approximately $1,840,751.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,478 shares of company stock valued at $667,285. Insiders own 7.48% of the company’s stock.

WAL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, March 6th. 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. Finally, TheStreet cut Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $61.67.

WAL traded down $0.98 during trading on Monday, reaching $43.88. 21,747 shares of the stock traded hands, compared to its average volume of 1,082,563. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.83 and a beta of 1.52. Western Alliance Bancorporation has a fifty-two week low of $37.39 and a fifty-two week high of $64.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The firm had revenue of $281.97 million during the quarter, compared to analysts’ expectations of $262.36 million. Western Alliance Bancorporation had a return on equity of 17.81% and a net margin of 40.48%. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 4.63 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Tealwood Asset Management Inc. Buys 38,346 Shares of Western Alliance Bancorporation (WAL)” was published by WKRB News and is the sole property of of WKRB News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.wkrb13.com/2019/04/15/tealwood-asset-management-inc-buys-38346-shares-of-western-alliance-bancorporation-wal.html.

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.

Featured Story: Balanced Fund

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.