Western Alliance Bancorporation (WAL) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,812 shares of the financial services provider’s stock after selling 2,900 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $895,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Western Alliance Bancorporation by 1.7% during the third quarter. Vanguard Group Inc. now owns 8,348,025 shares of the financial services provider’s stock valued at $474,919,000 after purchasing an additional 142,664 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Western Alliance Bancorporation by 1.7% during the third quarter. Vanguard Group Inc now owns 8,348,025 shares of the financial services provider’s stock valued at $474,919,000 after purchasing an additional 142,664 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Western Alliance Bancorporation by 5.0% during the fourth quarter. BlackRock Inc. now owns 4,679,054 shares of the financial services provider’s stock valued at $184,775,000 after purchasing an additional 222,975 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Western Alliance Bancorporation by 1.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,711,384 shares of the financial services provider’s stock valued at $107,073,000 after purchasing an additional 27,734 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Western Alliance Bancorporation by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 1,832,108 shares of the financial services provider’s stock valued at $104,229,000 after purchasing an additional 95,626 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Robert Reoch Mcauslan sold 2,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $44.97, for a total transaction of $89,940.00. Following the completion of the sale, the executive vice president now owns 15,611 shares in the company, valued at approximately $702,026.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Randall S. Theisen sold 2,370 shares of the stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $46.09, for a total value of $109,233.30. Following the sale, the executive vice president now owns 9,179 shares of the company’s stock, valued at approximately $423,060.11. The disclosure for this sale can be found here. Insiders sold 14,478 shares of company stock valued at $667,285 over the last 90 days. 7.48% of the stock is currently owned by insiders.

WAL has been the subject of several analyst reports. Citigroup upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $56.00 to $53.00 in a research report on Tuesday, January 15th. TheStreet downgraded Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Stephens reiterated a “buy” rating and set a $60.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, December 12th. Finally, Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $61.67.

WAL traded up $0.37 during trading on Thursday, reaching $43.69. The stock had a trading volume of 798,265 shares, compared to its average volume of 899,359. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. Western Alliance Bancorporation has a 1-year low of $37.39 and a 1-year high of $64.06.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, January 24th. The financial services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. The firm had revenue of $281.97 million during the quarter, compared to the consensus estimate of $262.36 million. Western Alliance Bancorporation had a return on equity of 17.81% and a net margin of 40.48%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 earnings per share. Equities analysts expect that Western Alliance Bancorporation will post 4.63 EPS for the current fiscal year.

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Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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

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