Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,592 shares of the financial services provider’s stock after selling 7,500 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Western Alliance Bancorporation were worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Western Alliance Bancorporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after purchasing an additional 195,031 shares in the last quarter. Swiss National Bank lifted its position in shares of Western Alliance Bancorporation by 6.3% during the second quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock worth $8,182,000 after purchasing an additional 9,900 shares in the last quarter. Nicholas Investment Partners LP lifted its position in shares of Western Alliance Bancorporation by 5.4% during the second quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock worth $6,612,000 after purchasing an additional 6,944 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Western Alliance Bancorporation by 532.8% during the second quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock worth $35,521,000 after buying an additional 607,885 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Western Alliance Bancorporation by 0.7% during the second quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock worth $5,744,000 after buying an additional 859 shares during the period. 81.59% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and set a $64.50 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Barclays raised their target price on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Jefferies Group restated a “buy” rating and set a $57.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, September 26th. DA Davidson restated a “buy” rating and set a $64.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Finally, Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.94.

Shares of Western Alliance Bancorporation (NYSE:WAL) traded up $0.37 during mid-day trading on Thursday, hitting $59.15. The stock had a trading volume of 505,161 shares, compared to its average volume of 507,733. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $60.25. The stock has a market capitalization of $6,220.00, a PE ratio of 20.26, a P/E/G ratio of 1.39 and a beta of 1.76. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm 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%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. analysts forecast that Western Alliance Bancorporation will post 3.07 EPS for the current year.

In related news, Director Marianne Boyd Johnson sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total transaction of $217,680.00. Following the transaction, the director now directly owns 3,295 shares of the company’s stock, valued at approximately $179,313.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William S. Boyd sold 10,000 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock valued at $9,780,670 in the last 90 days. 7.95% of the stock is owned by company insiders.

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Western Alliance Bancorporation Company 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.

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

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