Western Alliance Bancorporation (WAL) Shares Sold by Engineers Gate Manager LP
Engineers Gate Manager LP reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 9.2% during the fourth quarter, HoldingsChannel reports. The firm owned 10,824 shares of the financial services provider’s stock after selling 1,097 shares during the quarter. Engineers Gate Manager LP’s holdings in Western Alliance Bancorporation were worth $613,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of WAL. Westfield Capital Management Co. LP raised its holdings in Western Alliance Bancorporation by 78.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,114,177 shares of the financial services provider’s stock valued at $59,141,000 after buying an additional 489,157 shares during the last quarter. State Street Corp increased its stake in shares of Western Alliance Bancorporation by 8.8% in the 2nd quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock valued at $178,321,000 after acquiring an additional 293,800 shares in the last quarter. Koch Industries Inc. increased its stake in shares of Western Alliance Bancorporation by 4,291.0% in the 2nd quarter. Koch Industries Inc. now owns 272,285 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 266,084 shares in the last quarter. Ameriprise Financial Inc. grew its position in Western Alliance Bancorporation by 46.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 570,941 shares of the financial services provider’s stock valued at $30,306,000 after purchasing an additional 181,812 shares during the period. Finally, Maltese Capital Management LLC grew its position in Western Alliance Bancorporation by 207.1% in the 3rd quarter. Maltese Capital Management LLC now owns 215,000 shares of the financial services provider’s stock valued at $11,412,000 after purchasing an additional 145,000 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.
Shares of Western Alliance Bancorporation (NYSE WAL) opened at $57.92 on Tuesday. The firm has a market capitalization of $6,130.00, a P/E ratio of 18.68, a PEG ratio of 1.11 and a beta of 1.63. Western Alliance Bancorporation has a 52 week low of $44.64 and a 52 week high of $60.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89.
Several brokerages have recently weighed in on WAL. DA Davidson reiterated a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Zacks Investment Research reissued a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a report on Saturday, January 6th. Sandler O’Neill reaffirmed a “buy” rating and issued a $69.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Stephens started coverage on Western Alliance Bancorporation in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 target price for the company. Finally, Barclays upped their target price on Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.59.
In related news, Director Marianne Boyd Johnson sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,295 shares in the company, valued at $179,313.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $56.36, for a total value of $169,080.00. Following the transaction, the executive vice president now owns 20,200 shares of the company’s stock, valued at approximately $1,138,472. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,942 shares of company stock valued at $560,338. Insiders own 7.95% of the company’s stock.
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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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