Castine Capital Management Has Increased Its Western Alliance Bancorp (WAL) Position; Fulton Financial (FULT) Has 1.49 Sentiment

December 7, 2017 - By Louis Casey

Fulton Financial Corporation operates as a multi-bank financial holding firm that provides banking and financial services to businesses and consumers. The company has market cap of $3.19 billion. It accepts various checking accounts and savings deposit products, certificates of deposit, and individual retirement accounts. It has a 17.84 P/E ratio. The firm also offers consumer loans, including home equity loans and lines of credit, automobile loans, automobile and equipment leases, personal lines of credit, and checking account overdraft protection; fixed, variable, and adjustable-rate products, such as construction and jumbo loans; and residential mortgages, as well as commercial lending products comprising commercial, financial, agricultural, and real estate loans.

Castine Capital Management Llc increased Western Alliance Bancorp (WAL) stake by 17.7% reported in 2017Q2 SEC filing. Castine Capital Management Llc acquired 19,467 shares as Western Alliance Bancorp (WAL)’s stock declined 13.36%. The Castine Capital Management Llc holds 129,467 shares with $6.37 million value, up from 110,000 last quarter. Western Alliance Bancorp now has $6.12B valuation. The stock decreased 0.14% or $0.08 during the last trading session, reaching $58.01. About 69,765 shares traded. Western Alliance Bancorporation (NYSE:WAL) has risen 29.08% since December 7, 2016 and is uptrending. It has outperformed by 12.38% the S&P500.

Among 11 analysts covering Western Alliance Bancorp (NYSE:WAL), 10 have Buy rating, 0 Sell and 1 Hold. Therefore 91% are positive. Western Alliance Bancorp had 35 analyst reports since September 8, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Buy” on Thursday, September 7. Jefferies maintained the shares of WAL in report on Friday, June 23 with “Buy” rating. On Friday, October 20 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The firm earned “Buy” rating on Tuesday, November 28 by SunTrust. The stock has “Buy” rating by Jefferies on Sunday, August 27. The stock of Western Alliance Bancorporation (NYSE:WAL) earned “Outperform” rating by Wood on Wednesday, March 30. RBC Capital Markets maintained Western Alliance Bancorporation (NYSE:WAL) rating on Wednesday, July 5. RBC Capital Markets has “Buy” rating and $5700 target. The rating was maintained by Piper Jaffray with “Buy” on Tuesday, September 12. The stock of Western Alliance Bancorporation (NYSE:WAL) has “Market Perform” rating given on Thursday, September 1 by Wells Fargo. The firm earned “Outperform” rating on Tuesday, September 8 by FIG Partners.

Investors sentiment increased to 1.02 in Q2 2017. Its up 0.19, from 0.83 in 2017Q1. It improved, as 24 investors sold WAL shares while 98 reduced holdings. 37 funds opened positions while 88 raised stakes. 84.56 million shares or 0.27% less from 84.79 million shares in 2017Q1 were reported. Waratah Capital Advsr Ltd owns 27,411 shares. Moreover, Ellington Mngmt Grp has 0.07% invested in Western Alliance Bancorporation (NYSE:WAL) for 9,400 shares. Da Davidson & holds 0% or 167 shares. Citadel Advsr Limited Com reported 546,036 shares. 28,159 were accumulated by Envestnet Asset Mngmt. Citigroup Incorporated has 38,535 shares for 0% of their portfolio. Brinker Capital reported 0.03% of its portfolio in Western Alliance Bancorporation (NYSE:WAL). Riverhead Cap Mgmt Limited Liability owns 1,800 shares for 0% of their portfolio. Ohio-based Fifth Third State Bank has invested 0.01% in Western Alliance Bancorporation (NYSE:WAL). Public Employees Retirement Association Of Colorado owns 504,360 shares. Oak Ridge Invs Limited accumulated 0.12% or 73,787 shares. Etrade Cap Limited Com owns 22,895 shares for 0.04% of their portfolio. Fdx has 4,484 shares. Winfield Assocs, a Ohio-based fund reported 3,420 shares. Driehaus Capital Management Ltd Liability Co stated it has 0.01% in Western Alliance Bancorporation (NYSE:WAL).

Castine Capital Management Llc decreased Keycorp New (NYSE:KEY) stake by 41,716 shares to 508,284 valued at $9.53M in 2017Q2. It also reduced Evans Bancorp Inc (NYSEMKT:EVBN) stake by 24,722 shares and now owns 119,023 shares. Veritex Hldgs Inc was reduced too.

Kestrel Investment Management Corp holds 3.77% of its portfolio in Fulton Financial Corporation for 535,900 shares. Fulton Bank N.A. owns 1.86 million shares or 2.74% of their US portfolio. Moreover, Hillcrest Asset Management Llc has 2.16% invested in the company for 614,359 shares. The New York-based Dalton Greiner Hartman Maher & Co has invested 1.28% in the stock. Foundry Partners Llc, a Minnesota-based fund reported 1.16 million shares.

The stock decreased 0.27% or $0.05 during the last trading session, reaching $18.2. About 48,333 shares traded. Fulton Financial Corporation (FULT) has risen 28.55% since December 7, 2016 and is uptrending. It has outperformed by 11.85% the S&P500.

Ratings analysis reveals 33% of Fulton Fincl’s analysts are positive. Out of 3 Wall Street analysts rating Fulton Fincl, 1 give it “Buy”, 1 “Sell” rating, while 1 recommend “Hold”. The lowest target is $15.0 while the high is $17.0. The stock’s average target of $16 is -12.09% below today’s ($18.2) share price. FULT was included in 3 notes of analysts from September 12, 2016. The firm has “Underweight” rating given on Tuesday, December 6 by Barclays Capital. The firm has “Outperform” rating by Hovde Group given on Monday, September 12. On Thursday, October 20 the stock rating was maintained by FBR Capital with “Mkt Perform”.

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