Pennsylvania Trust Co Acquires New Holdings in Western Alliance Bancorporation (WAL)

Pennsylvania Trust Co acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 157,420 shares of the financial services provider’s stock, valued at approximately $9,074,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WAL. Paradigm Asset Management Co. LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $54,000. Toronto Dominion Bank increased its holdings in Western Alliance Bancorporation by 94,800.0% in the 4th quarter. Toronto Dominion Bank now owns 1,898 shares of the financial services provider’s stock worth $75,000 after buying an additional 1,896 shares during the period. Cerebellum GP LLC increased its holdings in Western Alliance Bancorporation by 32.7% in the 4th quarter. Cerebellum GP LLC now owns 4,180 shares of the financial services provider’s stock worth $165,000 after buying an additional 1,030 shares during the period. First Interstate Bank increased its holdings in Western Alliance Bancorporation by 5.0% in the 4th quarter. First Interstate Bank now owns 5,925 shares of the financial services provider’s stock worth $234,000 after buying an additional 280 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Western Alliance Bancorporation in the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

In other news, EVP Randall S. Theisen sold 6,358 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total transaction of $293,548.86. Following the transaction, the executive vice president now owns 39,869 shares in the company, valued at approximately $1,840,751.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Reoch Mcauslan sold 2,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $44.97, for a total value of $89,940.00. Following the transaction, the executive vice president now owns 15,611 shares in the company, valued at approximately $702,026.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,478 shares of company stock worth $667,285. Insiders own 7.48% of the company’s stock.

Several brokerages recently weighed in on WAL. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Citigroup upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $56.00 to $53.00 in a research report on Tuesday, January 15th. Finally, TheStreet lowered Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $61.67.

Western Alliance Bancorporation stock opened at $44.92 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. Western Alliance Bancorporation has a 12 month low of $37.39 and a 12 month high of $64.06. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.84 and a beta of 1.52.

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

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Western Alliance Bancorporation 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.

Further Reading: Cash Flow Analysis in Stock Selection

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

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