American International Group Inc. reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,281 shares of the financial services provider’s stock after selling 170 shares during the period. American International Group Inc.’s holdings in Western Alliance Bancorporation were worth $112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $1,525,000. Guggenheim Capital LLC raised its position in shares of Western Alliance Bancorporation by 52.8% in the fourth quarter. Guggenheim Capital LLC now owns 20,666 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 7,141 shares during the period. Parametrica Management Ltd bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $200,000. Mountain Pacific Investment Advisers Inc. ID raised its position in shares of Western Alliance Bancorporation by 3.8% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 240,054 shares of the financial services provider’s stock valued at $11,784,000 after buying an additional 8,754 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its position in shares of Western Alliance Bancorporation by 17.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,611 shares of the financial services provider’s stock valued at $815,000 after buying an additional 2,478 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.

Western Alliance Bancorporation (NYSE WAL) opened at 50.09 on Thursday. Western Alliance Bancorporation has a 52 week low of $34.78 and a 52 week high of $53.84. The company has a 50 day moving average of $49.56 and a 200 day moving average of $49.04. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 18.09 and a beta of 1.73.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The company had revenue of $203.19 million during the quarter, compared to analyst estimates of $203.71 million. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, equities analysts forecast that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.

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Several research analysts have commented on WAL shares. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC restated a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, May 5th. Keefe, Bruyette & Woods set a $58.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, June 26th. BidaskClub lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Barclays PLC restated an “overweight” rating and issued a $59.00 price objective (up from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.20.

In related news, Chairman Robert Gary Sarver sold 65,448 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the sale, the chairman now directly owns 54,000 shares of the company’s stock, valued at $2,721,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.95% of the stock is owned by corporate insiders.

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.

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

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