Dowling & Yahnke LLC reduced its holdings in Western Alliance Bancorporation (NYSE:WAL) by 24.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,047 shares of the financial services provider’s stock after selling 3,850 shares during the quarter. Dowling & Yahnke LLC’s holdings in Western Alliance Bancorporation were worth $685,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its position in Western Alliance Bancorporation by 44.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,344 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 1,023 shares during the period. Atria Investments LLC acquired a new position in Western Alliance Bancorporation in the 2nd quarter valued at approximately $210,000. Fiduciary Trust Co. acquired a new position in Western Alliance Bancorporation in the 2nd quarter valued at approximately $215,000. American Century Companies Inc. bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at $263,000. Finally, First Hawaiian Bank bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $267,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.
A number of equities research analysts have recently commented on WAL shares. Citigroup reduced their price objective on shares of Western Alliance Bancorporation from $69.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, October 22nd. Barclays reduced their price objective on shares of Western Alliance Bancorporation from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 22nd. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. Wedbush started coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $67.00 price objective on the stock. Finally, Stephens reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $64.80.
NYSE:WAL opened at $48.24 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.91. Western Alliance Bancorporation has a 52 week low of $45.53 and a 52 week high of $64.06. The firm has a market capitalization of $5.03 billion, a PE ratio of 15.56, a PEG ratio of 0.97 and a beta of 1.47.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. Western Alliance Bancorporation had a net margin of 39.69% and a return on equity of 17.62%. The company had revenue of $238.46 million for the quarter, compared to analyst estimates of $247.04 million. During the same period in the prior year, the firm posted $0.79 EPS. Equities research analysts forecast that Western Alliance Bancorporation will post 4.07 earnings per share for the current year.
About Western Alliance Bancorporation
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.
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