FDx Advisors Inc. Has $327,000 Stake in Western Alliance Bancorporation (WAL)

FDx Advisors Inc. reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,620 shares of the financial services provider’s stock after selling 1,124 shares during the quarter. FDx Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. grew its holdings in shares of Western Alliance Bancorporation by 8.5% during the 4th quarter. Eagle Asset Management Inc. now owns 776,340 shares of the financial services provider’s stock worth $44,072,000 after purchasing an additional 61,007 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Western Alliance Bancorporation by 9.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 707,976 shares of the financial services provider’s stock valued at $40,086,000 after buying an additional 60,042 shares in the last quarter. Timber Hill LLC acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at about $208,000. Public Employees Retirement Association of Colorado boosted its stake in Western Alliance Bancorporation by 9.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 553,080 shares of the financial services provider’s stock valued at $31,315,000 after buying an additional 48,720 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Western Alliance Bancorporation by 48.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,171 shares of the financial services provider’s stock valued at $293,000 after buying an additional 1,681 shares in the last quarter. 83.98% of the stock is currently owned by institutional investors.

In other news, EVP Gerald A. Cady sold 5,500 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $60.00, for a total transaction of $330,000.00. Following the completion of the transaction, the executive vice president now directly owns 87,789 shares in the company, valued at $5,267,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sung Won Sohn sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the director now owns 5,310 shares of the company’s stock, valued at $318,600. The disclosure for this sale can be found here. Insiders have sold 90,307 shares of company stock worth $5,417,324 over the last three months. Insiders own 7.95% of the company’s stock.

Shares of WAL stock opened at $62.11 on Friday. Western Alliance Bancorporation has a 12 month low of $61.33 and a 12 month high of $62.09. The stock has a market cap of $6.52 billion, a PE ratio of 20.04, a PEG ratio of 1.17 and a beta of 1.57. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.03. Western Alliance Bancorporation had a return on equity of 16.18% and a net margin of 37.80%. The firm had revenue of $226.90 million for the quarter, compared to analyst estimates of $232.59 million. During the same period last year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. equities analysts predict that Western Alliance Bancorporation will post 4.05 EPS for the current year.

WAL has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, January 26th. DA Davidson reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a research note on Friday, January 26th. Wells Fargo raised Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday, January 29th. Sandler O’Neill reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.79.

Western Alliance Bancorporation Company 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.

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

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