Nuveen Asset Management LLC grew its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 21.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700,578 shares of the financial services provider’s stock after purchasing an additional 124,043 shares during the period. Nuveen Asset Management LLC owned about 0.66% of Western Alliance Bancorporation worth $27,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Interstate Bank lifted its holdings in shares of Western Alliance Bancorporation by 5.0% during the fourth quarter. First Interstate Bank now owns 5,925 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 280 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Western Alliance Bancorporation by 1.0% during the third quarter. Legal & General Group Plc now owns 47,593 shares of the financial services provider’s stock valued at $2,708,000 after purchasing an additional 492 shares during the last quarter. Banco Santander S.A. lifted its holdings in shares of Western Alliance Bancorporation by 4.9% during the fourth quarter. Banco Santander S.A. now owns 14,604 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 679 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Western Alliance Bancorporation by 0.9% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 79,626 shares of the financial services provider’s stock valued at $3,144,000 after purchasing an additional 700 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Western Alliance Bancorporation by 4.1% during the fourth quarter. State of Alaska Department of Revenue now owns 18,414 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 718 shares during the last quarter. 83.73% of the stock is owned by institutional investors and hedge funds.

WAL has been the subject of several analyst reports. Stephens reaffirmed a “buy” rating and set a $60.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, December 12th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, March 6th. Citigroup raised Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $56.00 to $53.00 in a research note on Tuesday, January 15th. TheStreet downgraded Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research note on Monday, December 24th. Finally, ValuEngine downgraded Western Alliance Bancorporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 5th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.50.

Shares of Western Alliance Bancorporation stock opened at $42.27 on Thursday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.84 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. Western Alliance Bancorporation has a 1 year low of $37.39 and a 1 year high of $64.06.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, January 24th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.07. Western Alliance Bancorporation had a return on equity of 17.81% and a net margin of 40.48%. The company had revenue of $281.97 million for the quarter, compared to analyst estimates of $262.36 million. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue was up 23.4% compared to the same quarter last year. On average, research analysts forecast that Western Alliance Bancorporation will post 4.7 earnings per share for the current year.

In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 6,358 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total value of $293,548.86. Following the sale, the executive vice president now owns 39,869 shares of the company’s stock, valued at approximately $1,840,751.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Reoch Mcauslan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $44.97, for a total value of $89,940.00. Following the completion of the sale, the executive vice president now directly owns 15,611 shares in the company, valued at approximately $702,026.67. The disclosure for this sale can be found here. Insiders sold a total of 14,478 shares of company stock worth $667,285 in the last ninety days. Insiders own 7.48% of the company’s stock.

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About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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

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