Cubist Systematic Strategies LLC trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 72.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,996 shares of the financial services provider’s stock after selling 10,444 shares during the period. Cubist Systematic Strategies LLC’s holdings in Western Alliance Bancorporation were worth $197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WAL. Principal Financial Group Inc. purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $855,000. Teachers Advisors LLC increased its stake in shares of Western Alliance Bancorporation by 2.5% during the 1st quarter. Teachers Advisors LLC now owns 120,859 shares of the financial services provider’s stock worth $5,933,000 after purchasing an additional 2,977 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Western Alliance Bancorporation by 187.4% during the 1st quarter. Legal & General Group Plc now owns 31,290 shares of the financial services provider’s stock worth $1,536,000 after purchasing an additional 20,402 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Western Alliance Bancorporation by 101.6% during the 1st quarter. Renaissance Technologies LLC now owns 63,104 shares of the financial services provider’s stock worth $3,098,000 after purchasing an additional 31,800 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Western Alliance Bancorporation by 7,273.7% during the 1st quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after purchasing an additional 4,279,862 shares in the last quarter. 81.55% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation (WAL) opened at $56.68 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5,979.17, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.63 and a beta of 1.77. Western Alliance Bancorporation has a 1-year low of $36.48 and a 1-year high of $57.04.

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

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Several research firms have commented on WAL. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday. SunTrust Banks, Inc. lifted their target price on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $64.50 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. Finally, Barclays PLC set a $65.00 target price on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $62.06.

In other Western Alliance Bancorporation news, CEO Robert Gary Sarver sold 100,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 54,000 shares in the company, valued at approximately $2,981,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $56.49, for a total transaction of $225,960.00. Following the completion of the sale, the executive vice president now directly owns 23,200 shares of the company’s stock, valued at approximately $1,310,568. The disclosure for this sale can be found here. Insiders sold a total of 269,000 shares of company stock worth $14,230,910 in the last quarter. 7.95% of the stock is currently owned by company 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.

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

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