Whittier Trust Co. of Nevada Inc. Has $121,000 Stake in Western Alliance Bancorp (WAL)
Whittier Trust Co. of Nevada Inc. continued to hold its stake in shares of Western Alliance Bancorp (NYSE:WAL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the financial services provider’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Western Alliance Bancorp were worth $121,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in WAL. AXA acquired a new stake in shares of Western Alliance Bancorp during the first quarter worth about $187,000. BlackRock Inc. increased its stake in shares of Western Alliance Bancorp by 161.9% in the first quarter. BlackRock Inc. now owns 6,183 shares of the financial services provider’s stock worth $207,000 after buying an additional 3,822 shares during the period. Foundry Partners LLC increased its stake in shares of Western Alliance Bancorp by 8.4% in the second quarter. Foundry Partners LLC now owns 7,125 shares of the financial services provider’s stock worth $233,000 after buying an additional 550 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Western Alliance Bancorp by 14,382.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,269 shares of the financial services provider’s stock worth $303,000 after buying an additional 9,205 shares during the period. Finally, IBM Retirement Fund acquired a new stake in shares of Western Alliance Bancorp during the second quarter worth about $308,000. 79.09% of the stock is owned by institutional investors.
Western Alliance Bancorp (NYSE:WAL) traded down 3.49% during mid-day trading on Thursday, reaching $37.38. The company’s stock had a trading volume of 473,921 shares. The stock’s 50-day moving average is $37.43 and its 200-day moving average is $35.44. Western Alliance Bancorp has a 12 month low of $26.60 and a 12 month high of $39.52. The firm has a market capitalization of $3.84 billion, a PE ratio of 16.22 and a beta of 1.61.
Western Alliance Bancorp (NYSE:WAL) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Western Alliance Bancorp had a return on equity of 14.48% and a net margin of 35.86%. On average, equities analysts anticipate that Western Alliance Bancorp will post $2.54 EPS for the current year.
A number of analysts have issued reports on the company. Jefferies Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Western Alliance Bancorp in a report on Tuesday, September 27th. Zacks Investment Research downgraded Western Alliance Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Wells Fargo & Co. initiated coverage on Western Alliance Bancorp in a report on Thursday, September 1st. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $40.10.
In related news, Director Donald D. Snyder sold 15,000 shares of Western Alliance Bancorp stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $34.00, for a total value of $510,000.00. Following the completion of the transaction, the director now directly owns 117,579 shares in the company, valued at $3,997,686. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Reoch Mcauslan sold 2,000 shares of Western Alliance Bancorp stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $36.50, for a total value of $73,000.00. Following the completion of the transaction, the executive vice president now owns 41,323 shares of the company’s stock, valued at $1,508,289.50. The disclosure for this sale can be found here. Insiders own 10.27% of the company’s stock.
About Western Alliance Bancorp
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.
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