American Century Companies Inc. Increases Stake in Western Alliance Bancorporation (WAL)
American Century Companies Inc. raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 401,538 shares of the financial services provider’s stock after buying an additional 4,215 shares during the period. American Century Companies Inc. owned about 0.39% of Western Alliance Bancorporation worth $19,756,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of WAL. BNP Paribas Arbitrage SA increased its position in Western Alliance Bancorporation by 72.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,060 shares during the period. Winfield Associates Inc. increased its position in Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares during the period. Stratos Wealth Partners LTD. acquired a new position in Western Alliance Bancorporation during the second quarter valued at approximately $207,000. Two Sigma Securities LLC acquired a new position in Western Alliance Bancorporation during the first quarter valued at approximately $211,000. Finally, Asset Management One Co. Ltd. acquired a new position in Western Alliance Bancorporation during the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 81.33% of the company’s stock.
Western Alliance Bancorporation (NYSE:WAL) opened at 48.62 on Friday. The firm has a market cap of $5.06 billion, a P/E ratio of 17.56 and a beta of 1.76. Western Alliance Bancorporation has a 1-year low of $35.56 and a 1-year high of $53.84. The firm has a 50 day moving average of $49.01 and a 200 day moving average of $48.84.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The company had revenue of $203.19 million during the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same period last year, the business earned $0.62 EPS. On average, equities research analysts expect that Western Alliance Bancorporation will post $3.04 EPS for the current year.
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Several equities analysts have commented on the stock. BidaskClub downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Jefferies Group LLC dropped their price target on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, May 22nd. SunTrust Banks, Inc. assumed coverage on shares of Western Alliance Bancorporation in a research note on Friday, August 18th. They issued a “buy” rating and a $59.00 price target for the company. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, July 25th. Finally, Barclays PLC restated an “overweight” rating and issued a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Western Alliance Bancorporation presently has a consensus rating of “Buy” and a consensus target price of $57.50.
In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the completion of the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at approximately $2,611,980. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.95% of the stock is owned by company insiders.
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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