Schroder Investment Management Group Has $55.92 Million Stake in Western Alliance Bancorporation (WAL)

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Schroder Investment Management Group lessened its holdings in Western Alliance Bancorporation (NYSE:WAL) by 57.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 888,486 shares of the financial services provider’s stock after selling 1,219,866 shares during the period. Schroder Investment Management Group owned 0.84% of Western Alliance Bancorporation worth $55,921,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WAL. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Western Alliance Bancorporation by 44.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,344 shares of the financial services provider’s stock valued at $195,000 after buying an additional 1,023 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Western Alliance Bancorporation in the first quarter valued at approximately $205,000. Atria Investments LLC acquired a new position in shares of Western Alliance Bancorporation in the second quarter valued at approximately $210,000. Clinton Group Inc. acquired a new position in shares of Western Alliance Bancorporation in the first quarter valued at approximately $212,000. Finally, Fiduciary Trust Co. acquired a new position in shares of Western Alliance Bancorporation in the second quarter valued at approximately $215,000. 83.89% of the stock is owned by institutional investors and hedge funds.

In related news, Director Donald D. Snyder sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $58.64, for a total transaction of $263,880.00. Following the completion of the transaction, the director now owns 97,239 shares of the company’s stock, valued at $5,702,094.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Dale Gibbons purchased 2,093 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were bought at an average cost of $56.88 per share, with a total value of $119,049.84. Following the transaction, the insider now directly owns 185,308 shares of the company’s stock, valued at approximately $10,540,319.04. The disclosure for this purchase can be found here. Corporate insiders own 7.48% of the company’s stock.

A number of equities analysts have recently weighed in on WAL shares. Citigroup started coverage on shares of Western Alliance Bancorporation in a research report on Monday, June 18th. They issued a “neutral” rating and a $69.00 price objective for the company. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Wells Fargo & Co set a $66.00 price objective on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Tuesday, October 2nd. Finally, Wedbush started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, July 10th. They issued an “outperform” rating and a $67.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $67.19.

WAL stock traded down $1.45 on Friday, hitting $53.65. 1,004,495 shares of the company were exchanged, compared to its average volume of 636,774. Western Alliance Bancorporation has a twelve month low of $51.82 and a twelve month high of $64.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.08 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. Western Alliance Bancorporation had a net margin of 38.48% and a return on equity of 16.68%. The firm had revenue of $237.50 million during the quarter, compared to analyst estimates of $242.86 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities analysts forecast that Western Alliance Bancorporation will post 4.04 EPS for the current fiscal year.

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.

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

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