American Century Companies Inc. Has $17.96 Million Holdings in Western Alliance Bancorporation (WAL)
American Century Companies Inc. trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,314 shares of the financial services provider’s stock after selling 63,224 shares during the quarter. American Century Companies Inc. owned about 0.32% of Western Alliance Bancorporation worth $17,958,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in Western Alliance Bancorporation during the third quarter worth $133,000. BNP Paribas Arbitrage SA increased its position in Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,060 shares during the last quarter. Winfield Associates Inc. increased its position in Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after buying an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after buying an additional 469 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Western Alliance Bancorporation during the third quarter worth $212,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Robert Reoch Mcauslan sold 4,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $56.49, for a total value of $225,960.00. Following the completion of the sale, the executive vice president now owns 23,200 shares in the company, valued at $1,310,568. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Robert Gary Sarver sold 50,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $56.22, for a total transaction of $2,811,000.00. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $3,035,880. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,000 shares of company stock valued at $9,393,910. 7.95% of the stock is owned by corporate insiders.
Shares of Western Alliance Bancorporation (NYSE WAL) opened at $54.24 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. Western Alliance Bancorporation has a one year low of $43.68 and a one year high of $57.04. The firm has a market cap of $5,713.34, a PE ratio of 18.36, a P/E/G ratio of 1.56 and a beta of 1.77.
Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The business had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. research analysts forecast that Western Alliance Bancorporation will post 3.07 EPS for the current year.
A number of research firms have issued reports on WAL. BidaskClub cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Jefferies Group LLC restated a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Barclays PLC set a $62.00 price target on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a report on Friday, August 18th. They set a “buy” rating and a $59.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $62.06.
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Western Alliance Bancorporation Company Profile
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.
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