Stifel Financial Corp Sells 174,530 Shares of Western Alliance Bancorporation (WAL)

Stifel Financial Corp lowered its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 66.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,381 shares of the financial services provider’s stock after selling 174,530 shares during the quarter. Stifel Financial Corp owned about 0.08% of Western Alliance Bancorporation worth $4,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Western Alliance Bancorporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after acquiring an additional 195,031 shares during the period. Swiss National Bank raised its holdings in Western Alliance Bancorporation by 6.3% in the 2nd quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock worth $8,182,000 after acquiring an additional 9,900 shares during the period. Nicholas Investment Partners LP raised its holdings in Western Alliance Bancorporation by 5.4% in the 2nd quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock worth $6,612,000 after acquiring an additional 6,944 shares during the period. Eagle Asset Management Inc. raised its holdings in Western Alliance Bancorporation by 532.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock worth $35,521,000 after acquiring an additional 607,885 shares during the period. Finally, Rhumbline Advisers raised its holdings in Western Alliance Bancorporation by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock worth $5,744,000 after acquiring an additional 859 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

Western Alliance Bancorporation (NYSE:WAL) traded up $1.10 during trading hours on Friday, hitting $57.40. 1,664,924 shares of the stock traded hands, compared to its average volume of 530,811. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $60.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $6,055.13, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.65 and a beta of 1.76.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data 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 net margin of 36.16% and a return on equity of 15.37%. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $212.27 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. research analysts forecast that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

In other news, EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $56.49, for a total transaction of $225,960.00. Following the transaction, the executive vice president now owns 23,200 shares in the company, valued at approximately $1,310,568. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Gary Sarver sold 100,000 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $55.22, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,000 shares of company stock worth $9,611,590. Insiders own 7.95% of the company’s stock.

WAL has been the topic of several recent analyst reports. SunTrust Banks 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 report on Thursday, October 26th. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, September 12th. Jefferies Group reiterated a “buy” rating and issued a $63.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, October 12th. Barclays set a $62.00 target price on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, ValuEngine downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $62.06.

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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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