OppenheimerFunds Inc. raised its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 778,968 shares of the financial services provider’s stock after acquiring an additional 76,337 shares during the quarter. OppenheimerFunds Inc.’s holdings in Western Alliance Bancorporation were worth $44,106,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. bought a new stake in Western Alliance Bancorporation during the 4th quarter valued at $124,000. Cerebellum GP LLC bought a new stake in Western Alliance Bancorporation during the 4th quarter valued at $124,000. Canada Pension Plan Investment Board bought a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $133,000. MAI Capital Management acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth $208,000. Finally, Timber Hill LLC acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth $208,000. 81.96% of the stock is currently owned by institutional investors and hedge funds.
In other Western Alliance Bancorporation news, EVP Robert Reoch Mcauslan sold 2,000 shares of Western Alliance Bancorporation stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $61.02, for a total transaction of $122,040.00. Following the completion of the sale, the executive vice president now owns 18,449 shares of the company’s stock, valued at approximately $1,125,757.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP J. Kelly Jr. Ardrey sold 538 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $60.30, for a total value of $32,441.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,480 shares of company stock valued at $497,139. 7.95% of the stock is currently owned by insiders.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.82% and a net margin of 36.56%. The company had revenue of $224.72 million during the quarter, compared to analysts’ expectations of $225.19 million. During the same quarter in the previous year, the firm posted $0.70 EPS. research analysts expect that Western Alliance Bancorporation will post 4.01 earnings per share for the current fiscal year.
WAL has been the subject of a number of recent analyst reports. ValuEngine cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Wells Fargo & Co reissued an “outperform” rating and issued a $62.00 price objective (up previously from $54.00) on shares of Western Alliance Bancorporation in a research report on Tuesday, January 9th. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $68.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, January 26th. Finally, DA Davidson reissued a “buy” rating on shares of Western Alliance Bancorporation in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Western Alliance Bancorporation currently has an average rating of “Buy” and a consensus price target of $66.59.
Western Alliance Bancorporation Company Profile
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.
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