5,300 Shares in Western Alliance Bancorporation (WAL) Acquired by Pacad Investment Ltd.

Pacad Investment Ltd. purchased a new position in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,300 shares of the financial services provider’s stock, valued at approximately $261,000.

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

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Shares of Western Alliance Bancorporation (WAL) opened at 45.32 on Monday. Western Alliance Bancorporation has a 12-month low of $35.56 and a 12-month high of $53.84. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 16.37 and a beta of 1.75. The stock’s 50 day moving average is $48.69 and its 200-day moving average is $48.65.

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

Several brokerages recently commented on WAL. BidaskClub lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, September 5th. Jefferies Group LLC cut their price target on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, May 22nd. SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 price target for the company. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $57.50.

In other news, Chairman Robert Gary Sarver sold 65,448 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the transaction, the chairman now owns 54,000 shares in the company, valued at $2,721,060. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.95% of the company’s stock.

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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