Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Tdam USA Inc.

Tdam USA Inc. boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,737 shares of the financial services provider’s stock after buying an additional 6,544 shares during the period. Tdam USA Inc.’s holdings in Western Alliance Bancorporation were worth $1,807,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WAL. BlackRock Inc. increased its stake in shares of Western Alliance Bancorporation by 7,273.7% in the first quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after buying an additional 4,279,862 shares during the period. Wellington Management Group LLP increased its stake in shares of Western Alliance Bancorporation by 9.8% in the first quarter. Wellington Management Group LLP now owns 4,813,169 shares of the financial services provider’s stock worth $236,279,000 after buying an additional 429,488 shares during the period. State Street Corp increased its stake in shares of Western Alliance Bancorporation by 11.4% in the first quarter. State Street Corp now owns 3,330,587 shares of the financial services provider’s stock worth $163,494,000 after buying an additional 341,611 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Western Alliance Bancorporation by 18.3% in the first quarter. JPMorgan Chase & Co. now owns 2,104,213 shares of the financial services provider’s stock worth $103,296,000 after buying an additional 325,128 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Western Alliance Bancorporation by 4.4% in the first quarter. Vanguard Group Inc. now owns 7,250,046 shares of the financial services provider’s stock worth $355,905,000 after buying an additional 303,860 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.

Western Alliance Bancorporation (NYSE:WAL) opened at 50.42 on Tuesday. Western Alliance Bancorporation has a 12-month low of $34.48 and a 12-month high of $53.84. The stock’s 50 day moving average is $49.36 and its 200-day moving average is $48.95. The company has a market capitalization of $5.25 billion, a P/E ratio of 18.21 and a beta of 1.73.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The firm had revenue of $203.19 million for the quarter, compared to the consensus estimate of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

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A number of analysts have weighed in on WAL shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Monday, April 10th. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday, May 5th. BidaskClub downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Barclays PLC reissued an “overweight” rating and issued a $59.00 price target (up from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Western Alliance Bancorporation presently has a consensus rating of “Buy” and an average target price of $57.20.

In other news, Chairman Robert Gary Sarver sold 65,448 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at $2,721,060. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.95% of the company’s stock.

About Western Alliance Bancorporation

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)

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