Weatherly Asset Management L. P. Trims Holdings in Western Alliance Bancorporation (NYSE:WAL)

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Weatherly Asset Management L. P. trimmed its position in Western Alliance Bancorporation (NYSE:WAL) by 16.9% in the 4th quarter, HoldingsChannel reports. The firm owned 5,780 shares of the financial services provider’s stock after selling 1,175 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Western Alliance Bancorporation were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Western Alliance Bancorporation by 4.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,702,713 shares of the financial services provider’s stock worth $344,465,000 after purchasing an additional 296,647 shares during the last quarter. BlackRock Inc. grew its holdings in Western Alliance Bancorporation by 6.9% during the second quarter. BlackRock Inc. now owns 5,209,279 shares of the financial services provider’s stock worth $232,958,000 after acquiring an additional 334,241 shares during the period. Macquarie Group Ltd. grew its holdings in Western Alliance Bancorporation by 686.7% during the second quarter. Macquarie Group Ltd. now owns 1,815,851 shares of the financial services provider’s stock worth $81,205,000 after acquiring an additional 1,585,020 shares during the period. Nuveen Asset Management LLC grew its holdings in Western Alliance Bancorporation by 123.4% during the second quarter. Nuveen Asset Management LLC now owns 1,566,801 shares of the financial services provider’s stock worth $70,068,000 after acquiring an additional 865,456 shares during the period. Finally, GW&K Investment Management LLC grew its holdings in Western Alliance Bancorporation by 30.9% during the third quarter. GW&K Investment Management LLC now owns 829,783 shares of the financial services provider’s stock worth $38,236,000 after acquiring an additional 195,665 shares during the period. Hedge funds and other institutional investors own 81.07% of the company’s stock.

In related news, Director Todd Marshall sold 20,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $50.18, for a total transaction of $1,003,600.00. Following the transaction, the director now owns 27,096 shares in the company, valued at $1,359,677.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have sold 75,000 shares of company stock worth $3,901,650. 7.72% of the stock is currently owned by company insiders.

Several brokerages have commented on WAL. Stephens set a $55.00 price objective on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Jaffray Companies set a $62.00 price objective on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, October 21st. SunTrust Banks dropped their price objective on Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Citigroup set a $58.00 price objective on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Zacks Investment Research reissued a “buy” rating and issued a $64.00 price objective on shares of Western Alliance Bancorporation in a report on Saturday, January 11th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $58.83.

Shares of NYSE:WAL traded down $0.08 during trading on Friday, reaching $57.56. The stock had a trading volume of 72,669 shares, compared to its average volume of 565,232. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 0.93. The business has a fifty day moving average price of $56.66 and a 200-day moving average price of $49.35. The stock has a market cap of $5.88 billion, a PE ratio of 12.19, a PEG ratio of 0.77 and a beta of 1.69. Western Alliance Bancorporation has a 1-year low of $38.55 and a 1-year high of $58.30.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.05. Western Alliance Bancorporation had a return on equity of 17.65% and a net margin of 39.08%. The firm had revenue of $287.50 million for the quarter, compared to the consensus estimate of $289.11 million. During the same quarter last year, the business posted $1.13 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that Western Alliance Bancorporation will post 4.78 earnings per share for the current year.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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