SG Americas Securities LLC purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,568 shares of the financial services provider’s stock, valued at approximately $1,844,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Western Alliance Bancorporation by 44.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,344 shares of the financial services provider’s stock worth $195,000 after buying an additional 1,023 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in Western Alliance Bancorporation during the 1st quarter worth about $205,000. Atria Investments LLC purchased a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $210,000. Clinton Group Inc. purchased a new stake in Western Alliance Bancorporation during the 1st quarter worth about $212,000. Finally, Fiduciary Trust Co. purchased a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $215,000. 82.92% of the stock is owned by institutional investors.
A number of analysts have issued reports on WAL shares. ValuEngine downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Citigroup initiated coverage on Western Alliance Bancorporation in a report on Monday, June 18th. They set a “neutral” rating and a $69.00 price target for the company. Wedbush initiated coverage on Western Alliance Bancorporation in a report on Tuesday, July 10th. They issued an “outperform” rating and a $67.00 target price for the company. Finally, Zacks Investment Research reissued a “sell” rating on shares of Western Alliance Bancorporation in a report on Saturday, June 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $67.65.
In related news, EVP Robert Reoch Mcauslan sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $62.26, for a total value of $186,780.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Dale Gibbons purchased 2,093 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was bought at an average price of $56.88 per share, for a total transaction of $119,049.84. Following the transaction, the insider now directly owns 185,308 shares in the company, valued at $10,540,319.04. The disclosure for this purchase can be found here. Insiders sold a total of 13,852 shares of company stock valued at $841,181 over the last three months. Company insiders own 7.48% of the company’s stock.
Western Alliance Bancorporation stock opened at $58.13 on Thursday. Western Alliance Bancorporation has a fifty-two week low of $44.83 and a fifty-two week high of $64.06. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.09 billion, a PE ratio of 18.72, a PEG ratio of 1.09 and a beta of 1.56.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.01. Western Alliance Bancorporation had a return on equity of 16.68% and a net margin of 38.48%. The business had revenue of $237.50 million during the quarter, compared to the consensus estimate of $242.86 million. During the same period in the previous year, the business earned $0.76 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. equities research analysts expect that Western Alliance Bancorporation will post 4.05 EPS for the current year.
Western Alliance Bancorporation Company 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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