Western Alliance Bancorporation (WAL) Holdings Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 12.0% in the 1st quarter, HoldingsChannel reports. The fund owned 6,784 shares of the financial services provider’s stock after selling 921 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Western Alliance Bancorporation were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc grew its holdings in Western Alliance Bancorporation by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 8,348,025 shares of the financial services provider’s stock worth $474,919,000 after acquiring an additional 142,664 shares in the last quarter. BlackRock Inc. grew its holdings in Western Alliance Bancorporation by 5.0% during the 4th quarter. BlackRock Inc. now owns 4,679,054 shares of the financial services provider’s stock worth $184,775,000 after acquiring an additional 222,975 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Western Alliance Bancorporation by 1.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,711,384 shares of the financial services provider’s stock worth $107,073,000 after acquiring an additional 27,734 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Western Alliance Bancorporation by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,832,108 shares of the financial services provider’s stock worth $104,229,000 after acquiring an additional 95,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Western Alliance Bancorporation by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,381 shares of the financial services provider’s stock worth $47,167,000 after acquiring an additional 42,204 shares in the last quarter. 85.67% of the stock is owned by institutional investors.

In other news, Director Bruce D. Beach sold 3,750 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $46.55, for a total value of $174,562.50. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $232,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Gary Sarver sold 66,351 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $46.71, for a total transaction of $3,099,255.21. Following the completion of the transaction, the insider now directly owns 59,504 shares of the company’s stock, valued at $2,779,431.84. The disclosure for this sale can be found here. Insiders sold a total of 78,459 shares of company stock valued at $3,657,307 over the last ninety days. Company insiders own 7.72% of the company’s stock.

NYSE WAL opened at $44.69 on Thursday. Western Alliance Bancorporation has a one year low of $37.39 and a one year high of $64.06. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.70 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.06. Western Alliance Bancorporation had a net margin of 40.08% and a return on equity of 17.84%. The business had revenue of $259.90 million during the quarter, compared to analyst estimates of $266.48 million. During the same period in the previous year, the business posted $0.96 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that Western Alliance Bancorporation will post 4.72 EPS for the current year.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Wells Fargo & Co raised their price objective on shares of Western Alliance Bancorporation from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, ValuEngine raised shares of Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $59.88.

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Western Alliance Bancorporation 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.

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

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