Canada Pension Plan Investment Board bought a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the financial services provider’s stock, valued at approximately $133,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Western Alliance Bancorporation by 2.7% in the second quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock valued at $366,298,000 after purchasing an additional 195,031 shares during the last quarter. State Street Corp raised its holdings in shares of Western Alliance Bancorporation by 8.8% in the second quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock valued at $178,321,000 after purchasing an additional 293,800 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Western Alliance Bancorporation by 0.4% in the third quarter. Victory Capital Management Inc. now owns 3,257,396 shares of the financial services provider’s stock valued at $172,903,000 after purchasing an additional 13,852 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Western Alliance Bancorporation by 38.3% in the second quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock valued at $121,944,000 after purchasing an additional 686,665 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Western Alliance Bancorporation by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 2,273,221 shares of the financial services provider’s stock valued at $111,842,000 after purchasing an additional 169,008 shares during the last quarter. Institutional investors own 81.05% of the company’s stock.

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In other news, EVP Robert Reoch Mcauslan sold 4,000 shares of Western Alliance Bancorporation stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $56.49, for a total value of $225,960.00. Following the completion of the transaction, the executive vice president now owns 23,200 shares in the company, valued at $1,310,568. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sung Won Sohn sold 5,000 shares of Western Alliance Bancorporation stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $55.89, for a total transaction of $279,450.00. The disclosure for this sale can be found here. Insiders sold 173,000 shares of company stock valued at $9,611,590 in the last quarter. Corporate insiders own 7.95% of the company’s stock.

Shares of Western Alliance Bancorporation (WAL) opened at $55.05 on Thursday. Western Alliance Bancorporation has a 1-year low of $44.64 and a 1-year high of $57.04. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5,840.99, a PE ratio of 18.77, a P/E/G ratio of 1.59 and a beta of 1.77.

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

WAL has been the subject of a number of research analyst reports. DA Davidson restated a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, September 5th. Barclays PLC set a $65.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, October 23rd. SunTrust Banks, Inc. raised their price objective on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $58.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.06.

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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