Epoch Investment Partners Inc. Cuts Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Epoch Investment Partners Inc. lessened its holdings in Western Alliance Bancorporation (NYSE:WAL) by 27.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,045,225 shares of the financial services provider’s stock after selling 397,258 shares during the period. Epoch Investment Partners Inc. owned 1.00% of Western Alliance Bancorporation worth $97,049,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WAL. Virginia Retirement Systems ET AL boosted its holdings in shares of Western Alliance Bancorporation by 7.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 27,500 shares of the financial services provider’s stock valued at $2,553,000 after purchasing an additional 2,000 shares during the last quarter. Toroso Investments LLC bought a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $243,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Western Alliance Bancorporation by 10.0% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 110,099 shares of the financial services provider’s stock valued at $10,223,000 after purchasing an additional 10,000 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $242,000. Finally, Jump Financial LLC bought a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $708,000. Institutional investors and hedge funds own 85.80% of the company’s stock.

Several research analysts have commented on WAL shares. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, September 16th. Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 7th. Jefferies Financial Group increased their price target on shares of Western Alliance Bancorporation from $116.00 to $131.00 and gave the company a “buy” rating in a report on Monday. TheStreet raised shares of Western Alliance Bancorporation from a “c+” rating to a “b-” rating in a report on Thursday, October 7th. Finally, Royal Bank of Canada increased their price target on shares of Western Alliance Bancorporation from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, July 19th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $98.79.

Western Alliance Bancorporation stock traded up $0.17 during midday trading on Thursday, reaching $111.73. The stock had a trading volume of 1,617 shares, compared to its average volume of 722,642. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 0.44. Western Alliance Bancorporation has a 52-week low of $36.54 and a 52-week high of $114.27. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 15.16 and a beta of 1.69. The company has a fifty day moving average of $101.06 and a 200 day moving average of $98.89.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $2.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.15. Western Alliance Bancorporation had a net margin of 47.52% and a return on equity of 21.08%. The company had revenue of $506.50 million for the quarter, compared to analyst estimates of $494.56 million. During the same period in the prior year, the company posted $0.93 EPS. Equities research analysts predict that Western Alliance Bancorporation will post 8.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were given a $0.35 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, August 12th. Western Alliance Bancorporation’s dividend payout ratio is 27.78%.

In related news, Chairman Robert Gary Sarver bought 200,000 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, September 15th. The shares were acquired at an average cost of $25.00 per share, with a total value of $5,000,000.00. Following the completion of the transaction, the chairman now owns 48,044 shares in the company, valued at approximately $1,201,100. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven J. Hilton bought 40,000 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, September 15th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director now owns 3,074 shares of the company’s stock, valued at approximately $76,850. The disclosure for this purchase can be found here. Corporate insiders own 2.81% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial; Consumer Related, and Corporate and Other. The Commercial segment focuses in delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.

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

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