Western Alliance Bancorporation (WAL) Shares Sold by Axa

Axa lowered its stake in Western Alliance Bancorporation (NYSE:WAL) by 29.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,100 shares of the financial services provider’s stock after selling 8,800 shares during the period. Axa’s holdings in Western Alliance Bancorporation were worth $1,038,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in Western Alliance Bancorporation by 72.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,060 shares in the last quarter. Winfield Associates Inc. boosted its position in Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Western Alliance Bancorporation by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after buying an additional 469 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Western Alliance Bancorporation in the second quarter valued at approximately $207,000. Finally, Asset Management One Co. Ltd. acquired a new stake in Western Alliance Bancorporation in the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 81.23% of the company’s stock.

In related news, Chairman Robert Gary Sarver sold 65,448 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the transaction, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $2,721,060. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.95% of the stock is currently owned by company insiders.

A number of brokerages have weighed in on WAL. BidaskClub lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, September 5th. SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a research report on Friday, August 18th. They issued a “buy” rating and a $59.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Western Alliance Bancorporation has an average rating of “Buy” and a consensus target price of $57.83.

Western Alliance Bancorporation (WAL) opened at 50.69 on Friday. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 18.31 and a beta of 1.75. The stock’s 50 day moving average is $48.17 and its 200-day moving average is $48.37. Western Alliance Bancorporation has a one year low of $35.56 and a one year high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The firm had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, equities research analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

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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.

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

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