Renaissance Group LLC raised its position in Western Alliance Bancorporation (NYSE:WAL) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,688 shares of the financial services provider’s stock after buying an additional 150 shares during the period. Renaissance Group LLC’s holdings in Western Alliance Bancorporation were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Western Alliance Bancorporation by 8.4% in the first quarter. ProShare Advisors LLC now owns 16,468 shares of the financial services provider’s stock valued at $808,000 after buying an additional 1,276 shares during the period. Russell Investments Group Ltd. raised its position in shares of Western Alliance Bancorporation by 33.9% in the first quarter. Russell Investments Group Ltd. now owns 143,138 shares of the financial services provider’s stock valued at $7,036,000 after buying an additional 36,258 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Western Alliance Bancorporation by 10.8% in the first quarter. Great West Life Assurance Co. Can now owns 39,892 shares of the financial services provider’s stock valued at $1,959,000 after buying an additional 3,900 shares during the period. Advisors Asset Management Inc. raised its position in shares of Western Alliance Bancorporation by 62.4% in the first quarter. Advisors Asset Management Inc. now owns 16,649 shares of the financial services provider’s stock valued at $817,000 after buying an additional 6,397 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Western Alliance Bancorporation by 52.5% in the first quarter. American Century Companies Inc. now owns 397,323 shares of the financial services provider’s stock valued at $19,505,000 after buying an additional 136,754 shares during the period. 81.33% of the stock is currently owned by institutional investors.

Shares of Western Alliance Bancorporation (WAL) opened at 48.23 on Thursday. The firm has a market capitalization of $5.02 billion, a P/E ratio of 17.42 and a beta of 1.73. Western Alliance Bancorporation has a one year low of $35.56 and a one year high of $53.84. The company has a 50-day moving average price of $49.24 and a 200 day moving average price of $48.90.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $203.19 million during the quarter, compared to analysts’ expectations of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same quarter last year, the company posted $0.62 earnings per share. Analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

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WAL has been the subject of several recent research reports. Jefferies Group LLC lowered their price target on Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, May 22nd. Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, June 26th. SunTrust Banks, Inc. initiated coverage on Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 price target for the company. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, July 25th. Finally, BidaskClub upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $57.50.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total value of $4,837,000.00. Following the completion of the sale, the chairman now owns 54,000 shares in the company, valued at $2,611,980. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.95% of the company’s stock.

About Western Alliance Bancorporation

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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