Segall Bryant & Hamill LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 134,005 shares of the financial services provider’s stock, valued at approximately $7,113,000. Segall Bryant & Hamill LLC owned approximately 0.13% of Western Alliance Bancorporation at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in Western Alliance Bancorporation during the third quarter worth $133,000. BNP Paribas Arbitrage SA raised 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 acquiring an additional 1,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 acquiring an additional 469 shares in the last quarter. Dearborn Partners LLC acquired a new position in Western Alliance Bancorporation during the third quarter worth $205,000. Finally, Meeder Asset Management Inc. acquired a new position in Western Alliance Bancorporation during the third quarter worth $212,000. Hedge funds and other institutional investors own 81.82% of the company’s stock.
Several research firms have issued reports on WAL. Piper Jaffray Companies reiterated a “buy” rating and set a $64.50 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Barclays set a $65.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, October 23rd. BidaskClub lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Tuesday, September 5th. Finally, SunTrust Banks began coverage on Western Alliance Bancorporation in a research note on Friday, August 18th. They issued a “buy” rating and a $59.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.06.
Shares of Western Alliance Bancorporation (WAL) traded up $0.27 during trading hours on Friday, hitting $58.97. The stock had a trading volume of 690,586 shares, compared to its average volume of 493,878. Western Alliance Bancorporation has a 52 week low of $44.64 and a 52 week high of $60.25. The firm has a market capitalization of $6,192.27, a price-to-earnings ratio of 19.90, a PEG ratio of 1.69 and a beta of 1.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89.
Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. analysts predict that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.
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About Western Alliance Bancorporation
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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