Teachers Advisors LLC boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 105.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,415 shares of the financial services provider’s stock after buying an additional 127,556 shares during the period. Teachers Advisors LLC owned 0.24% of Western Alliance Bancorporation worth $12,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Western Alliance Bancorporation by 4.4% in the first quarter. Vanguard Group Inc. now owns 7,250,046 shares of the financial services provider’s stock worth $355,905,000 after buying an additional 303,860 shares during the period. BlackRock Inc. increased its position in Western Alliance Bancorporation by 7,273.7% in the first quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after buying an additional 4,279,862 shares during the period. State Street Corp increased its position in Western Alliance Bancorporation by 11.4% in the first quarter. State Street Corp now owns 3,330,587 shares of the financial services provider’s stock worth $163,494,000 after buying an additional 341,611 shares during the period. JPMorgan Chase & Co. increased its position in Western Alliance Bancorporation by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 2,273,221 shares of the financial services provider’s stock worth $111,842,000 after buying an additional 169,008 shares during the period. Finally, Schroder Investment Management Group increased its position in Western Alliance Bancorporation by 4.0% in the second quarter. Schroder Investment Management Group now owns 2,053,844 shares of the financial services provider’s stock worth $101,480,000 after buying an additional 79,452 shares during the period. 81.23% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation (NYSE WAL) opened at 53.08 on Friday. Western Alliance Bancorporation has a 1-year low of $35.56 and a 1-year high of $53.84. The stock has a 50 day moving average price of $48.17 and a 200 day moving average price of $48.37. The company has a market cap of $5.53 billion, a PE ratio of 19.17 and a beta of 1.75.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 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 previous year, the company posted $0.62 EPS. Equities analysts forecast that Western Alliance Bancorporation will post $3.04 earnings per share for the current year.

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

Several equities research analysts have weighed in on the company. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Saturday, September 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, September 26th. Barclays PLC reaffirmed an “overweight” rating and issued a $59.00 target price (up from $58.00) on shares of Western Alliance Bancorporation in a research report on Monday, July 24th. Finally, BidaskClub raised 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 and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $57.83.

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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.

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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