Sei Investments Co. Acquires 59,296 Shares of Western Alliance Bancorporation (WAL)

Sei Investments Co. raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,976 shares of the financial services provider’s stock after buying an additional 59,296 shares during the period. Sei Investments Co.’s holdings in Western Alliance Bancorporation were worth $18,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. GW&K Investment Management LLC lifted its position in Western Alliance Bancorporation by 0.3% during the fourth quarter. GW&K Investment Management LLC now owns 320,452 shares of the financial services provider’s stock valued at $18,144,000 after buying an additional 958 shares in the last quarter. US Bancorp DE lifted its position in Western Alliance Bancorporation by 3.2% during the fourth quarter. US Bancorp DE now owns 40,588 shares of the financial services provider’s stock valued at $2,299,000 after buying an additional 1,264 shares in the last quarter. Advisor Group Inc. lifted its position in Western Alliance Bancorporation by 48.4% during the third quarter. Advisor Group Inc. now owns 4,048 shares of the financial services provider’s stock valued at $215,000 after buying an additional 1,320 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Western Alliance Bancorporation by 7.2% during the third quarter. Advisors Asset Management Inc. now owns 20,573 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 1,383 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Western Alliance Bancorporation by 0.5% during the third quarter. Allianz Asset Management GmbH now owns 328,914 shares of the financial services provider’s stock valued at $17,459,000 after purchasing an additional 1,517 shares during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on WAL. DA Davidson reiterated a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, October 23rd. Zacks Investment Research reiterated a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a research note on Saturday, January 6th. Sandler O’Neill reiterated a “buy” rating and set a $69.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Stephens began coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, January 17th. They set an “overweight” rating and a $68.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $66.59.

Shares of Western Alliance Bancorporation (WAL) opened at $61.16 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market cap of $6,451.58, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.17 and a beta of 1.63. Western Alliance Bancorporation has a 12 month low of $44.64 and a 12 month high of $61.50.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $224.72 million during the quarter, compared to analyst estimates of $225.19 million. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.82%. During the same quarter in the previous year, the firm earned $0.70 earnings per share. analysts expect that Western Alliance Bancorporation will post 4.01 EPS for the current year.

In related news, EVP Randall S. Theisen sold 2,942 shares of Western Alliance Bancorporation stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the sale, the executive vice president now owns 39,321 shares in the company, valued at $2,319,939. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of Western Alliance Bancorporation stock in a transaction on Friday, December 15th. The stock was sold at an average price of $56.36, for a total transaction of $169,080.00. Following the completion of the sale, the executive vice president now owns 20,200 shares of the company’s stock, valued at approximately $1,138,472. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by insiders.

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

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