First Trust Advisors LP trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 32.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,664 shares of the financial services provider’s stock after selling 93,177 shares during the quarter. First Trust Advisors LP owned 0.19% of Western Alliance Bancorporation worth $10,280,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in shares of Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,060 shares during the last quarter. Winfield Associates Inc. lifted its position in shares of Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Western Alliance Bancorporation during the second quarter worth $202,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Western Alliance Bancorporation during the second quarter worth $207,000. Institutional investors and hedge funds own 81.57% of the company’s stock.

Western Alliance Bancorporation (NYSE:WAL) opened at $53.42 on Friday. The company has a market capitalization of $5,661.65, a price-to-earnings ratio of 18.19, a PEG ratio of 1.54 and a beta of 1.77. 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 52 week low of $42.32 and a 52 week high of $57.04.

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

Several analysts have recently weighed in on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $64.50 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Barclays PLC set a $65.00 target price on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 23rd. BidaskClub downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday, September 5th. Finally, SunTrust Banks, Inc. started coverage on Western Alliance Bancorporation in a research report on Friday, August 18th. They set a “buy” rating and a $59.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $62.06.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction dated 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 transaction, the chairman now owns 54,000 shares in the company, valued at $2,611,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Boyd sold 10,000 shares of Western Alliance Bancorporation stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $55.55, for a total value of $555,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,000 shares of company stock worth $14,230,910. Insiders own 7.95% of the company’s stock.

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About Western Alliance Bancorporation

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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