Public Employees Retirement System of Ohio Has $4.47 Million Holdings in Western Alliance Bancorporation (WAL)
Public Employees Retirement System of Ohio boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,204 shares of the financial services provider’s stock after purchasing an additional 1,807 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.08% of Western Alliance Bancorporation worth $4,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its stake 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 worth $125,000 after purchasing an additional 1,060 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Western Alliance Bancorporation in the third quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Western Alliance Bancorporation by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Western Alliance Bancorporation in the second quarter worth about $202,000. Finally, Dearborn Partners LLC bought a new stake in Western Alliance Bancorporation in the third quarter worth about $205,000. 81.59% of the stock is owned by institutional investors and hedge funds.
WAL has been the subject of several research analyst reports. SunTrust Banks lifted their price target on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. ValuEngine downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and set a $63.00 price target on shares of Western Alliance Bancorporation in a research note on Thursday, October 12th. Finally, Barclays set a $62.00 price target on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.06.
In related news, CEO Robert Gary Sarver sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $55.22, for a total value of $5,522,000.00. Following the completion of the transaction, the chief executive officer now owns 54,000 shares of the company’s stock, valued at $2,981,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $56.49, for a total transaction of $225,960.00. Following the completion of the transaction, the executive vice president now directly owns 23,200 shares of the company’s stock, valued at approximately $1,310,568. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock valued at $9,780,670 in the last three months. 7.95% of the stock is currently owned by insiders.
Shares of Western Alliance Bancorporation (NYSE WAL) opened at $57.14 on Wednesday. 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 has a 12 month low of $44.64 and a 12 month high of $60.25. The firm has a market cap of $6,118.43, a P/E ratio of 19.57, a PEG ratio of 1.67 and a beta of 1.76.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The firm had revenue of $211.50 million during the quarter, compared to the consensus estimate of $212.27 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. sell-side analysts expect that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.
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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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