BNP Paribas Arbitrage SA Purchases 9,376 Shares of Western Alliance Bancorporation (WAL)

BNP Paribas Arbitrage SA raised its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 370.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,907 shares of the financial services provider’s stock after purchasing an additional 9,376 shares during the period. BNP Paribas Arbitrage SA’s holdings in Western Alliance Bancorporation were worth $632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Western Alliance Bancorporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock valued at $366,298,000 after acquiring an additional 195,031 shares in the last quarter. State Street Corp raised its stake in shares of Western Alliance Bancorporation by 8.8% in the 2nd quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock valued at $178,321,000 after acquiring an additional 293,800 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Western Alliance Bancorporation by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,257,396 shares of the financial services provider’s stock valued at $172,903,000 after acquiring an additional 13,852 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Western Alliance Bancorporation by 38.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock valued at $121,944,000 after acquiring an additional 686,665 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Western Alliance Bancorporation by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,273,221 shares of the financial services provider’s stock valued at $111,842,000 after acquiring an additional 169,008 shares in the last quarter. 81.82% of the stock is owned by institutional investors.

Shares of Western Alliance Bancorporation (WAL) traded down $0.05 during trading hours on Thursday, hitting $58.09. The stock had a trading volume of 390,300 shares, compared to its average volume of 646,614. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $60.25. The firm has a market cap of $6,133.19, a price-to-earnings ratio of 19.71, a PEG ratio of 1.67 and a beta of 1.76. 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 (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $212.27 million. During the same quarter last year, the firm earned $0.66 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. equities research analysts anticipate that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

In related news, EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $56.49, for a total value of $225,960.00. Following the sale, the executive vice president now owns 23,200 shares of the company’s stock, valued at approximately $1,310,568. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sung Won Sohn sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $55.89, for a total value of $279,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 173,000 shares of company stock worth $9,611,590 in the last three months. 7.95% of the stock is owned by insiders.

A number of research analysts recently weighed in on WAL shares. SunTrust Banks raised their price objective on Western Alliance Bancorporation from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and issued a $63.00 price target on shares of Western Alliance Bancorporation in a research report on Thursday, October 12th. Barclays set a $62.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $62.06.

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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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