World Asset Management Inc bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,063 shares of the financial services provider’s stock, valued at approximately $216,000. World Asset Management Inc owned 3,851.55% of Western Alliance Bancorporation as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 195,031 shares during the period. Swiss National Bank lifted its holdings in Western Alliance Bancorporation by 6.3% in the second quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock valued at $8,182,000 after acquiring an additional 9,900 shares during the period. Eagle Asset Management Inc. lifted its holdings in Western Alliance Bancorporation by 532.8% in the second quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock valued at $35,521,000 after acquiring an additional 607,885 shares during the period. Nicholas Investment Partners LP lifted its holdings in Western Alliance Bancorporation by 5.4% in the second quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock valued at $6,612,000 after acquiring an additional 6,944 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Western Alliance Bancorporation by 0.7% in the second quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock valued at $5,744,000 after acquiring an additional 859 shares during the period. 81.57% of the stock is currently owned by institutional investors.

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Shares of Western Alliance Bancorporation (WAL) opened at $53.42 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. Western Alliance Bancorporation has a 1 year low of $42.32 and a 1 year high of $57.04. The stock has a market capitalization of $5,661.65, a PE ratio of 18.19, a P/E/G ratio of 1.54 and a beta of 1.77.

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

In related news, Chairman Robert Gary Sarver sold 50,000 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $56.22, for a total transaction of $2,811,000.00. Following the completion of the sale, the chairman now owns 54,000 shares in the company, valued at $3,035,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $56.49, for a total value of $225,960.00. Following the transaction, the executive vice president now 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 have sold 269,000 shares of company stock valued at $14,230,910 in the last quarter. 7.95% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. SunTrust Banks, Inc. upped their price target on Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Piper Jaffray Companies restated a “buy” rating and issued a $64.50 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Jefferies Group LLC restated a “buy” rating and issued a $65.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Finally, Barclays PLC set a $65.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $62.06.

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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