Strs Ohio Has $6.26 Million Stake in Western Alliance Bancorporation (WAL)

Strs Ohio reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 59.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the financial services provider’s stock after selling 160,000 shares during the period. Strs Ohio’s holdings in Western Alliance Bancorporation were worth $6,257,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Western Alliance Bancorporation by 44.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,344 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 1,023 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation during the first quarter worth approximately $205,000. Atria Investments LLC acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth approximately $210,000. Fiduciary Trust Co. acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth approximately $215,000. Finally, American Century Companies Inc. acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth approximately $263,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

WAL stock opened at $47.49 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.18. The company has a market cap of $5.05 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.98 and a beta of 1.47. Western Alliance Bancorporation has a 52 week low of $45.53 and a 52 week high of $64.06.



Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The firm had revenue of $238.46 million during the quarter, compared to analysts’ expectations of $247.04 million. Western Alliance Bancorporation had a net margin of 39.69% and a return on equity of 17.62%. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, analysts anticipate that Western Alliance Bancorporation will post 4.07 earnings per share for the current year.

Several research firms recently commented on WAL. Zacks Investment Research restated a “sell” rating on shares of Western Alliance Bancorporation in a report on Saturday, June 30th. Wells Fargo & Co set a $66.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Tuesday, October 2nd. ValuEngine cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Friday, October 19th. SunTrust Banks decreased their price target on shares of Western Alliance Bancorporation to $63.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada decreased their price target on shares of Western Alliance Bancorporation to $61.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Western Alliance Bancorporation presently has a consensus rating of “Buy” and an average target price of $64.80.

In other Western Alliance Bancorporation news, Director Michael Patriarca bought 2,140 shares of Western Alliance Bancorporation stock in a transaction on Wednesday, October 24th. The stock was purchased at an average cost of $46.78 per share, for a total transaction of $100,109.20. Following the completion of the purchase, the director now directly owns 8,875 shares of the company’s stock, valued at $415,172.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.48% of the stock is owned by insiders.

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.

Read More: Fiduciary

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

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