TD Asset Management Inc. Sells 1,300 Shares of Western Alliance Bancorporation (WAL)
TD Asset Management Inc. lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 113,258 shares of the financial services provider’s stock after selling 1,300 shares during the period. TD Asset Management Inc. owned approximately 0.11% of Western Alliance Bancorporation worth $6,012,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Western Alliance Bancorporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock valued at $366,298,000 after buying an additional 195,031 shares during the period. Swiss National Bank increased its stake in Western Alliance Bancorporation by 6.3% in the second quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock worth $8,182,000 after purchasing an additional 9,900 shares during the period. Nicholas Investment Partners LP increased its stake in Western Alliance Bancorporation by 5.4% in the second quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock worth $6,612,000 after purchasing an additional 6,944 shares during the period. Eagle Asset Management Inc. increased its stake in Western Alliance Bancorporation by 532.8% in the second quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock worth $35,521,000 after purchasing an additional 607,885 shares during the period. Finally, Rhumbline Advisers increased its stake in Western Alliance Bancorporation by 0.7% in the second quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock worth $5,744,000 after purchasing an additional 859 shares during the period. Institutional investors own 81.82% of the company’s stock.
In other news, Director Marianne Boyd Johnson sold 4,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total transaction of $217,680.00. Following the transaction, the director now owns 3,295 shares of the company’s stock, valued at approximately $179,313.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William S. Boyd sold 10,000 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $55.55, for a total value of $555,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 173,000 shares of company stock worth $9,611,590 in the last three months. Corporate insiders own 7.95% of the company’s stock.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $212.27 million. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. equities analysts forecast that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.
A number of research firms have weighed in on WAL. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. SunTrust Banks increased their target price on Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $64.50 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Jefferies Group reiterated a “buy” rating and issued a $65.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Finally, Barclays set a $65.00 target price on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $62.06.
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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