BlackRock Discloses 6.4% Stake in Western Alliance Bancorp
Ticker: WAL-PA · Form: SC 13G · Filed: Jan 31, 2024 · CIK: 1212545
| Field | Detail |
|---|---|
| Company | Western Alliance Bancorporation (WAL-PA) |
| Form Type | SC 13G |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock just revealed a 6.4% stake in Western Alliance Bancorp, signaling institutional confidence.**
AI Summary
BlackRock Inc. reported on January 31, 2024, that as of December 31, 2023, it holds a significant stake in Western Alliance Bancorporation (NYSE: WAL). This filing indicates BlackRock's passive ownership of 7,006,236 shares of Common Stock, representing 6.4% of the company. This matters to investors because BlackRock, a major institutional investor, sees value in WAL, which can signal confidence and potentially influence other investors.
Why It Matters
This filing shows a major institutional investor, BlackRock, has a significant passive stake in Western Alliance Bancorporation, which can be a vote of confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institutional investor, which generally reduces perceived risk rather than increasing it.
Analyst Insight
A smart investor would view BlackRock's significant stake as a positive signal, potentially indicating stability or growth prospects for Western Alliance Bancorporation, and might consider further research into the company's fundamentals.
Key Numbers
- 7,006,236 — Shares Owned (The total number of Common Stock shares BlackRock Inc. beneficially owns in Western Alliance Bancorporation.)
- 6.4% — Ownership Percentage (The percentage of Western Alliance Bancorporation's Common Stock owned by BlackRock Inc., indicating a significant stake.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Western Alliance Bancorporation (company) — the subject company in which shares are held
- 7,006,236 (dollar_amount) — number of shares of Common Stock beneficially owned by BlackRock Inc.
- 6.4% (dollar_amount) — percentage of the class of Common Stock beneficially owned by BlackRock Inc.
- December 31, 2023 (person) — the date of the event requiring the filing
Forward-Looking Statements
- Other institutional investors may increase their positions in Western Alliance Bancorporation, following BlackRock's lead. (Western Alliance Bancorporation) — medium confidence, target: Q1 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person in this SC 13G filing is BlackRock, Inc., as stated under 'Names of reporting persons' on the cover page.
What is the name of the issuer whose securities are being reported?
The name of the issuer is WESTERN ALLIANCE BANCORPORATION, as clearly stated under 'Name of Issuer' in the filing.
What type of securities does BlackRock, Inc. hold in Western Alliance Bancorporation?
BlackRock, Inc. holds 'Common Stock' of Western Alliance Bancorporation, as specified under 'Title of Class of Securities'.
As of what date did the event requiring this filing occur?
The event requiring this filing occurred on December 31, 2023, as indicated by 'Date of Event Which Requires Filing of this Statement'.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as marked with an 'X' in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 31, 2024 by December 31, 2023 regarding WESTERN ALLIANCE BANCORPORATION (WAL-PA).