Deutsche Bank AG Buys 183,412 Shares of Western Alliance Bancorporation (WAL)

Deutsche Bank AG increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 74.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,322 shares of the financial services provider’s stock after purchasing an additional 183,412 shares during the period. Deutsche Bank AG owned approximately 0.41% of Western Alliance Bancorporation worth $16,990,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Western Alliance Bancorporation by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 1,012,698 shares of the financial services provider’s stock worth $39,991,000 after acquiring an additional 55,995 shares during the last quarter. Norges Bank purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $33,692,000. Penn Capital Management Co. Inc. boosted its holdings in shares of Western Alliance Bancorporation by 40.1% in the 4th quarter. Penn Capital Management Co. Inc. now owns 315,089 shares of the financial services provider’s stock worth $14,990,000 after purchasing an additional 90,242 shares during the period. Amalgamated Bank boosted its holdings in shares of Western Alliance Bancorporation by 32.8% in the 4th quarter. Amalgamated Bank now owns 20,525 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 5,068 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Western Alliance Bancorporation by 9.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 145,578 shares of the financial services provider’s stock valued at $5,749,000 after acquiring an additional 12,698 shares during the period. Institutional investors own 85.40% of the company’s stock.

In related news, Director Bruce D. Beach sold 3,750 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $46.55, for a total transaction of $174,562.50. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $232,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Gary Sarver sold 66,351 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $46.71, for a total value of $3,099,255.21. Following the transaction, the insider now directly owns 59,504 shares in the company, valued at $2,779,431.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,459 shares of company stock valued at $3,657,307. Corporate insiders own 7.72% of the company’s stock.

A number of equities analysts recently issued reports on WAL shares. Citigroup upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $56.00 to $53.00 in a report on Tuesday, January 15th. 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 report on Wednesday, March 6th. Wells Fargo & Co boosted their price objective on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, ValuEngine upgraded Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Western Alliance Bancorporation currently has a consensus rating of “Buy” and a consensus target price of $59.88.

Shares of WAL stock traded up $1.02 during mid-day trading on Friday, hitting $49.05. The stock had a trading volume of 733,352 shares, compared to its average volume of 858,011. Western Alliance Bancorporation has a 12-month low of $37.39 and a 12-month high of $64.06. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.92 and a beta of 1.57. The company has a current ratio of 0.93, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.06. The firm had revenue of $259.90 million during the quarter, compared to analyst estimates of $266.48 million. Western Alliance Bancorporation had a return on equity of 17.84% 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 period in the previous year, the company posted $0.96 EPS. Research analysts predict that Western Alliance Bancorporation will post 4.72 EPS for the current fiscal year.

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About Western Alliance Bancorporation

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.

Read More: SEC Filing

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

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