Western Alliance Bancorporation (WAL) Shares Sold by Nicholas Investment Partners LP

Nicholas Investment Partners LP trimmed its position in Western Alliance Bancorporation (NYSE:WAL) by 68.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,098 shares of the financial services provider’s stock after selling 92,330 shares during the quarter. Nicholas Investment Partners LP’s holdings in Western Alliance Bancorporation were worth $2,235,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Western Alliance Bancorporation by 0.3% in the second 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 last quarter. ProShare Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 0.3% in the second 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 last quarter. First Interstate Bank raised its stake in shares of Western Alliance Bancorporation by 2.5% in the second 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 last quarter. Renaissance Group LLC raised its stake in shares of Western Alliance Bancorporation by 2.0% in the second 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Western Alliance Bancorporation by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

Shares of Western Alliance Bancorporation (WAL) traded down $0.78 during mid-day trading on Wednesday, reaching $58.14. The company had a trading volume of 670,100 shares, compared to its average volume of 647,709. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $6,215.48, a PE ratio of 19.97, a P/E/G ratio of 1.69 and a beta of 1.76. Western Alliance Bancorporation has a 52 week low of $44.64 and a 52 week high of $60.25.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. Western Alliance Bancorporation’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. research analysts anticipate that Western Alliance Bancorporation will post 3.07 EPS for the current year.

In other Western Alliance Bancorporation news, Director William S. Boyd sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $55.55, for a total value of $555,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Gary Sarver sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $55.22, for a total value of $5,522,000.00. Following the completion of the sale, the chief executive officer now directly owns 54,000 shares in the company, valued at $2,981,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,000 shares of company stock valued at $9,611,590. 7.95% of the stock is owned by company insiders.

Several research analysts have recently issued reports on the company. SunTrust Banks started coverage on Western Alliance Bancorporation in a research note on Friday, August 18th. They issued a “buy” rating and a $59.00 price objective for the company. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Saturday, September 9th. DA Davidson reiterated a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Barclays set a $65.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. 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 company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $62.06.

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Western Alliance Bancorporation Profile

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.

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

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