Schwab Charles Investment Management Inc. Boosts Stake in Western Alliance Bancorporation (NYSE:WAL)

Schwab Charles Investment Management Inc. increased its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,310 shares of the financial services provider’s stock after buying an additional 35,204 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Western Alliance Bancorporation were worth $18,817,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in WAL. Solaris Asset Management LLC raised its stake in Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 50 shares in the last quarter. First Interstate Bank raised its stake in Western Alliance Bancorporation by 2.9% in the first quarter. First Interstate Bank now owns 5,915 shares of the financial services provider’s stock valued at $290,000 after buying an additional 165 shares in the last quarter. IFP Advisors Inc raised its stake in Western Alliance Bancorporation by 2.4% in the first quarter. IFP Advisors Inc now owns 21,639 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 504 shares in the last quarter. Intrust Bank NA raised its stake in Western Alliance Bancorporation by 7.7% in the first quarter. Intrust Bank NA now owns 7,936 shares of the financial services provider’s stock valued at $389,000 after buying an additional 564 shares in the last quarter. Finally, Swiss National Bank raised its stake in Western Alliance Bancorporation by 0.6% in the first quarter. Swiss National Bank now owns 156,400 shares of the financial services provider’s stock valued at $7,678,000 after buying an additional 900 shares in the last quarter. Institutional investors own 84.45% of the company’s stock.

Shares of Western Alliance Bancorporation (WAL) opened at 50.23 on Monday. Western Alliance Bancorporation has a 52-week low of $32.40 and a 52-week high of $53.84. The company’s 50-day moving average price is $47.28 and its 200-day moving average price is $48.82. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 19.32 and a beta of 1.74.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Western Alliance Bancorporation had a net margin of 34.90% and a return on equity of 14.90%. The business had revenue of $189.22 million during the quarter, compared to the consensus estimate of $196.03 million. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Equities research analysts forecast that Western Alliance Bancorporation will post $2.97 EPS for the current fiscal year.

WARNING: “Schwab Charles Investment Management Inc. Boosts Stake in Western Alliance Bancorporation (NYSE:WAL)” was posted by WKRB News and is owned by of WKRB News. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.wkrb13.com/markets/2284776/schwab-charles-investment-management-inc-boosts-stake-in-western-alliance-bancorporation-nysewal.html.

Several equities research analysts have recently weighed in on the company. Jefferies Group LLC lowered their price objective on Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, May 22nd. BidaskClub lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $57.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, April 3rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, April 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Want to see what other hedge funds are holding WAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Alliance Bancorporation (NYSE:WAL).

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

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2284776/schwab-charles-investment-management-inc-boosts-stake-in-western-alliance-bancorporation-nysewal.html

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.

 


Leave a Reply

 
© 2006-2017 WKRB News.