Western Alliance Bancorporation (WAL) Position Cut by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. lessened its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.7% during the first quarter, according to the company in its most recent 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 period. TCI Wealth Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $895,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WAL. Paradigm Asset Management Co. LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $54,000. Toronto Dominion Bank increased its stake in shares of Western Alliance Bancorporation by 94,800.0% in the fourth quarter. Toronto Dominion Bank now owns 1,898 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,896 shares during the period. Cerebellum GP LLC increased its stake in shares of Western Alliance Bancorporation by 32.7% in the fourth quarter. Cerebellum GP LLC now owns 4,180 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 1,030 shares during the period. First Interstate Bank increased its stake in shares of Western Alliance Bancorporation by 5.0% in the fourth quarter. First Interstate Bank now owns 5,925 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 280 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of Western Alliance Bancorporation in the fourth quarter worth about $258,000. 85.40% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on WAL shares. Wells Fargo & Co boosted their price target on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, March 6th. Citigroup upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and lowered their price target for the company from $56.00 to $53.00 in a research note on Tuesday, January 15th. Finally, ValuEngine raised Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a report on Wednesday. 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. The stock has a consensus rating of “Buy” and an average price target of $59.88.

NYSE:WAL opened at $49.05 on Friday. Western Alliance Bancorporation has a 52-week low of $37.39 and a 52-week high of $64.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.89 and a beta of 1.57.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, April 22nd. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. The firm had revenue of $259.90 million for the quarter, compared to the consensus estimate of $266.48 million. Western Alliance Bancorporation had a return on equity of 18.24% and a net margin of 40.08%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. On average, analysts expect that Western Alliance Bancorporation will post 4.72 earnings per share for the current year.

In related news, EVP Randall S. Theisen sold 6,358 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $46.17, for a total value of $293,548.86. Following the completion of the sale, the executive vice president now owns 39,869 shares in the company, valued at approximately $1,840,751.73. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce D. Beach sold 3,750 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $46.55, for a total transaction of $174,562.50. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $232,750. The disclosure for this sale can be found here. Insiders have sold a total of 78,459 shares of company stock valued at $3,657,307 in the last quarter. Corporate insiders own 7.72% of the company’s stock.

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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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