Great West Life Assurance Co. Can lowered its stake in shares of 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. The firm owned 39,092 shares of the financial services provider’s stock after selling 800 shares during the period. Great West Life Assurance Co. Can’s holdings in Western Alliance Bancorporation were worth $1,919,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Investment Counselors of Maryland LLC purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $186,000. Solaris Asset Management LLC increased its position in shares of Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $196,000 after buying an additional 50 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $211,000. Asset Management One Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $212,000. Finally, M&T Bank Corp purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $218,000. Institutional investors own 82.99% of the company’s stock.

Shares of Western Alliance Bancorporation (WAL) opened at 48.00 on Friday. The firm has a 50-day moving average of $49.24 and a 200 day moving average of $48.90. The stock has a market capitalization of $5.00 billion, a PE ratio of 17.33 and a beta of 1.73. Western Alliance Bancorporation has a 52-week low of $35.56 and a 52-week high of $53.84.

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

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

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 65,448 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at $2,721,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.95% of the stock is 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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