Voya Investment Management LLC Trims Holdings in Western Alliance Bancorporation (WAL)

Voya Investment Management LLC decreased its position in Western Alliance Bancorporation (NYSE:WAL) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,495 shares of the financial services provider’s stock after selling 3,335 shares during the quarter. Voya Investment Management LLC owned 0.12% of Western Alliance Bancorporation worth $6,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Winfield Associates Inc. increased its stake in Western Alliance Bancorporation by 0.6% in the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 20 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,257 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 24 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the 2nd quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 48 shares during the period. First Interstate Bank boosted its holdings in shares of Western Alliance Bancorporation by 2.5% in the 2nd quarter. First Interstate Bank now owns 6,065 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 150 shares during the period. Finally, Renaissance Group LLC boosted its holdings in shares of Western Alliance Bancorporation by 2.0% in the 2nd quarter. Renaissance Group LLC now owns 7,688 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 150 shares during the period. 81.23% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/11/voya-investment-management-llc-trims-holdings-in-western-alliance-bancorporation-wal.html.

A number of brokerages have recently commented on WAL. Jefferies Group LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Saturday, September 23rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a report on Friday, September 8th. BidaskClub cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, SunTrust Banks, Inc. began coverage on Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Western Alliance Bancorporation currently has an average rating of “Buy” and an average price target of $57.83.

In related news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total value of $4,837,000.00. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.95% of the stock is currently owned by company insiders.

Western Alliance Bancorporation (WAL) opened at 53.89 on Wednesday. The stock has a market cap of $5.61 billion, a PE ratio of 19.46 and a beta of 1.75. Western Alliance Bancorporation has a one year low of $35.56 and a one year high of $54.29. The stock has a 50 day moving average price of $49.53 and a 200-day moving average price of $48.58.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 20th. The fi

A number of other large investors have also recently added to or reduced their stakes in the business. Winfield Associates Inc. increased its stake in Western Alliance Bancorporation by 0.6% in the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 20 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,257 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 24 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the 2nd quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 48 shares during the period. First Interstate Bank boosted its holdings in shares of Western Alliance Bancorporation by 2.5% in the 2nd quarter. First Interstate Bank now owns 6,065 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 150 shares during the period. Finally, Renaissance Group LLC boosted its holdings in shares of Western Alliance Bancorporation by 2.0% in the 2nd quarter. Renaissance Group LLC now owns 7,688 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 150 shares during the period. 81.23% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/11/voya-investment-management-llc-trims-holdings-in-western-alliance-bancorporation-wal.html.

A number of brokerages have recently commented on WAL. Jefferies Group LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Saturday, September 23rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a report on Friday, September 8th. BidaskClub cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Finally, SunTrust Banks, Inc. began coverage on Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Western Alliance Bancorporation currently has an average rating of “Buy” and an average price target of $57.83.

In related news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total value of $4,837,000.00. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.95% of the stock is currently owned by company insiders.

Western Alliance Bancorporation (WAL) opened at 53.89 on Wednesday. The stock has a market cap of $5.61 billion, a PE ratio of 19.46 and a beta of 1.75. Western Alliance Bancorporation has a one year low of $35.56 and a one year high of $54.29. The stock has a 50 day moving average price of $49.53 and a 200-day moving average price of $48.58.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. The firm had revenue of $203.19 million during the quarter, compared to analysts’ expectations of $203.71 million. During the same quarter last year, the firm earned $0.62 earnings per share. Equities research analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

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

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