Schroder Investment Management Group Purchases 79,452 Shares of Western Alliance Bancorporation (WAL)
Schroder Investment Management Group raised its position in Western Alliance Bancorporation (NYSE:WAL) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,053,844 shares of the financial services provider’s stock after acquiring an additional 79,452 shares during the quarter. Schroder Investment Management Group owned approximately 1.97% of Western Alliance Bancorporation worth $101,480,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in Western Alliance Bancorporation by 72.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,060 shares during the last quarter. Winfield Associates Inc. lifted its stake in Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Western Alliance Bancorporation by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 469 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Western Alliance Bancorporation in the second quarter worth approximately $207,000. Finally, Two Sigma Securities LLC purchased a new position in Western Alliance Bancorporation in the first quarter worth approximately $211,000. Institutional investors own 81.33% of the company’s stock.
Shares of Western Alliance Bancorporation (WAL) opened at 46.77 on Thursday. The firm’s 50-day moving average is $48.91 and its 200-day moving average is $48.70. Western Alliance Bancorporation has a 12-month low of $35.56 and a 12-month high of $53.84. The firm has a market cap of $4.87 billion, a PE ratio of 16.89 and a beta of 1.75.
Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. During the same period in the previous year, the company earned $0.62 earnings per share. Equities analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on WAL shares. Jefferies Group LLC decreased their price target on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, May 22nd. Keefe, Bruyette & Woods set a $58.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, June 26th. SunTrust Banks, Inc. started coverage on shares of Western Alliance Bancorporation in a report on Friday, August 18th. They set a “buy” rating and a $59.00 price objective on the stock. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, July 25th. Finally, BidaskClub raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.33.
In related news, Chairman Robert Gary Sarver sold 65,448 shares of Western Alliance Bancorporation stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at $2,721,060. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.95% of the stock is owned by insiders.
Western Alliance Bancorporation 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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