Raymond James Financial Services Advisors Inc. Acquires Shares of 4,104 Western Alliance Bancorporation (WAL)

Raymond James Financial Services Advisors Inc. acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,104 shares of the financial services provider’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock valued at $366,298,000 after buying an additional 195,031 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Western Alliance Bancorporation by 6.3% in the 2nd quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock valued at $8,182,000 after buying an additional 9,900 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Western Alliance Bancorporation by 532.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock valued at $35,521,000 after buying an additional 607,885 shares during the last quarter. Nicholas Investment Partners LP boosted its holdings in shares of Western Alliance Bancorporation by 5.4% in the 2nd quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock valued at $6,612,000 after buying an additional 6,944 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Western Alliance Bancorporation by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock valued at $5,744,000 after buying an additional 859 shares during the last quarter. 81.24% of the stock is owned by institutional investors.

In related news, Chairman Robert Gary Sarver sold 50,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $56.22, for a total value of $2,811,000.00. Following the transaction, the chairman now owns 54,000 shares in the company, valued at $3,035,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William S. Boyd sold 10,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $55.55, for a total value of $555,500.00. The disclosure for this sale can be found here. Insiders have sold 269,000 shares of company stock valued at $14,230,910 in the last three months. Insiders own 7.95% of the company’s stock.

Several equities research analysts have issued reports on WAL shares. BidaskClub downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Barclays PLC set a $62.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, SunTrust Banks, Inc. started coverage on Western Alliance Bancorporation in a report on Friday, August 18th. They set a “buy” rating and a $59.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $62.06.

TRADEMARK VIOLATION NOTICE: This piece was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/11/14/raymond-james-financial-services-advisors-inc-acquires-shares-of-4104-western-alliance-bancorporation-wal.html.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at $53.75 on Tuesday. Western Alliance Bancorporation has a twelve month low of $43.00 and a twelve month high of $57.04. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5,635.28, a price-to-earnings ratio of 18.11, a PEG ratio of 1.53 and a beta of 1.77.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The company had revenue of $211.50 million during the quarter, compared to the consensus estimate of $212.27 million. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue was up 15.4% on a year-over-year basis. research analysts forecast that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

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.

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

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply