Western Alliance Bancorporation (NYSE:WAL) Holdings Raised by State of Wisconsin Investment Board

State of Wisconsin Investment Board raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 24.2% during the first quarter, HoldingsChannel.com reports. The fund owned 401,241 shares of the financial services provider’s stock after buying an additional 78,070 shares during the period. State of Wisconsin Investment Board’s holdings in Western Alliance Bancorporation were worth $16,467,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc raised its holdings in Western Alliance Bancorporation by 1.7% during the third quarter. Vanguard Group Inc now owns 8,348,025 shares of the financial services provider’s stock valued at $474,919,000 after acquiring an additional 142,664 shares during the period. BlackRock Inc. raised its holdings in Western Alliance Bancorporation by 4.2% during the first quarter. BlackRock Inc. now owns 4,875,038 shares of the financial services provider’s stock valued at $200,071,000 after acquiring an additional 195,984 shares during the period. Lord Abbett & CO. LLC raised its holdings in Western Alliance Bancorporation by 1.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,711,384 shares of the financial services provider’s stock valued at $107,073,000 after acquiring an additional 27,734 shares during the period. JPMorgan Chase & Co. raised its holdings in Western Alliance Bancorporation by 5.1% during the first quarter. JPMorgan Chase & Co. now owns 2,035,492 shares of the financial services provider’s stock valued at $83,536,000 after acquiring an additional 99,461 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Western Alliance Bancorporation by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,199,495 shares of the financial services provider’s stock valued at $49,229,000 after acquiring an additional 5,114 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on WAL shares. Zacks Investment Research raised 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. Wells Fargo & Co raised their price target on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, ValuEngine raised Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Western Alliance Bancorporation has an average rating of “Buy” and a consensus price target of $59.13.

In related news, EVP Robert Reoch Mcauslan sold 2,000 shares of Western Alliance Bancorporation 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 transaction, the executive vice president now owns 15,611 shares in the company, valued at $702,026.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Gary Sarver sold 66,351 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $46.71, for a total value of $3,099,255.21. Following the completion of the transaction, the insider now owns 59,504 shares of the company’s stock, valued at approximately $2,779,431.84. The disclosure for this sale can be found here. Insiders own 7.72% of the company’s stock.

Shares of WAL stock traded down $0.63 during trading hours on Wednesday, hitting $43.06. The stock had a trading volume of 113,610 shares, compared to its average volume of 847,781. Western Alliance Bancorporation has a one year low of $37.39 and a one year high of $63.39. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.81 and a beta of 1.62.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, April 22nd. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.06. Western Alliance Bancorporation had a return on equity of 17.84% and a net margin of 40.08%. The firm had revenue of $259.90 million for the quarter, compared to analysts’ expectations of $266.48 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Western Alliance Bancorporation will post 4.75 EPS for the current fiscal year.

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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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