Western Alliance Bancorporation (WAL) Shares Bought by Tygh Capital Management Inc.
Tygh Capital Management Inc. increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 24.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,936 shares of the financial services provider’s stock after purchasing an additional 30,975 shares during the quarter. Western Alliance Bancorporation accounts for about 1.7% of Tygh Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Tygh Capital Management Inc. owned about 0.15% of Western Alliance Bancorporation worth $8,277,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WAL. BNP Paribas Arbitrage SA lifted its stake in Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,060 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Western Alliance Bancorporation during the third quarter worth $133,000. Winfield Associates Inc. lifted its stake in Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Western Alliance Bancorporation during the second quarter worth $202,000. Hedge funds and other institutional investors own 81.57% of the company’s stock.
Western Alliance Bancorporation (NYSE:WAL) traded down $0.23 during mid-day trading on Tuesday, reaching $56.45. The company’s stock had a trading volume of 378,478 shares, compared to its average volume of 739,971. Western Alliance Bancorporation has a 12 month low of $37.53 and a 12 month high of $57.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $5,780.00, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.63 and a beta of 1.77.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $212.27 million. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. analysts predict that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.
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A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. BidaskClub cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, September 26th. Barclays PLC set a $62.00 target price on Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, SunTrust Banks, Inc. assumed coverage on Western Alliance Bancorporation in a research note on Friday, August 18th. They issued a “buy” rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.06.
In related news, EVP Robert Reoch Mcauslan sold 4,000 shares of Western Alliance Bancorporation stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $56.49, for a total transaction of $225,960.00. Following the transaction, the executive vice president now directly owns 23,200 shares of the company’s stock, valued at $1,310,568. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $55.22, for a total value of $5,522,000.00. Following the transaction, the chief executive officer now directly owns 54,000 shares in the company, valued at $2,981,880. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,000 shares of company stock worth $14,230,910. Company insiders own 7.95% of the company’s stock.
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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