Westwood Holdings Group Inc. Lowers Position in Western Alliance Bancorporation (WAL)

Westwood Holdings Group Inc. reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,794,282 shares of the financial services provider’s stock after selling 145,199 shares during the period. Westwood Holdings Group Inc. owned approximately 1.73% of Western Alliance Bancorporation worth $88,082,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tyers Asset Management LLC bought a new position in Western Alliance Bancorporation during the fourth quarter valued at $126,000. Elkfork Partners LLC bought a new position in Western Alliance Bancorporation during the fourth quarter valued at $174,000. Investment Counselors of Maryland LLC bought a new position in Western Alliance Bancorporation during the first quarter valued at $186,000. Solaris Asset Management LLC raised its position in Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 50 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in Western Alliance Bancorporation during the first quarter valued at $200,000. Hedge funds and other institutional investors own 84.45% of the company’s stock.

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

Shares of Western Alliance Bancorporation (NYSE:WAL) traded down 1.09% on Tuesday, hitting $48.89. 918,651 shares of the stock traded hands. The firm’s 50 day moving average is $47.36 and its 200 day moving average is $48.86. The firm has a market capitalization of $5.08 billion, a PE ratio of 18.80 and a beta of 1.74. Western Alliance Bancorporation has a 52 week low of $29.72 and a 52 week high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, April 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The firm had revenue of $189.22 million during the quarter, compared to the consensus estimate of $196.03 million. Western Alliance Bancorporation had a return on equity of 15.24% and a net margin of 38.64%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, analysts expect that Western Alliance Bancorporation will post $2.97 EPS for the current fiscal year.

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Several research firms have weighed in on WAL. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, April 10th. Jefferies Group LLC dropped their price objective on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, May 22nd. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, March 17th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $57.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, April 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Western Alliance Bancorporation has a consensus rating of “Buy” and an average price target of $56.00.

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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