Basswood Capital Management L.L.C. raised its position in Western Alliance Bancorporation (NYSE:WAL) by 470.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,391 shares of the financial services provider’s stock after acquiring an additional 354,094 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.41% of Western Alliance Bancorporation worth $16,957,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $54,000. Toronto Dominion Bank grew its position in Western Alliance Bancorporation by 94,800.0% in the 4th quarter. Toronto Dominion Bank now owns 1,898 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 1,896 shares in the last quarter. Cerebellum GP LLC grew its position in Western Alliance Bancorporation by 32.7% in the 4th quarter. Cerebellum GP LLC now owns 4,180 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 1,030 shares in the last quarter. Piedmont Investment Advisors Inc. grew its position in Western Alliance Bancorporation by 28,586.7% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 4,303 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 4,288 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $247,000. 83.48% of the stock is owned by institutional investors.
Shares of Western Alliance Bancorporation stock opened at $44.80 on Friday. Western Alliance Bancorporation has a one year low of $37.39 and a one year high of $64.06. The stock has a market cap of $4.72 billion, a PE ratio of 10.82, a P/E/G ratio of 0.83 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. Western Alliance Bancorporation had a return on equity of 17.81% and a net margin of 40.48%. The business had revenue of $281.97 million during the quarter, compared to the consensus estimate of $262.36 million. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, sell-side analysts predict that Western Alliance Bancorporation will post 4.7 earnings per share for the current year.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, March 6th. ValuEngine downgraded Western Alliance Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 5th. Citigroup raised Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $56.00 to $53.00 in a research report on Tuesday, January 15th. Stephens reissued a “buy” rating and set a $60.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, December 12th. Finally, TheStreet downgraded Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Western Alliance Bancorporation currently has an average rating of “Buy” and a consensus price target of $62.50.
In related news, EVP Randall S. Theisen sold 6,358 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total value of $293,548.86. Following the completion of the transaction, the executive vice president now directly owns 39,869 shares of the company’s stock, valued at $1,840,751.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce D. Beach sold 3,750 shares of the company’s stock in a transaction that occurred on 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 $232,750. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,478 shares of company stock valued at $577,345. Corporate insiders own 7.48% of the company’s stock.
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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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