Russell Investments Group Ltd. trimmed its holdings in Western Alliance Bancorporation (NYSE:WAL) by 21.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,361 shares of the financial services provider’s stock after selling 21,405 shares during the quarter. Russell Investments Group Ltd.’s holdings in Western Alliance Bancorporation were worth $3,547,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Davis Capital Partners LLC increased its position in Western Alliance Bancorporation by 200.0% in the first quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock worth $61,560,000 after purchasing an additional 1,000,000 shares during the period. JPMorgan Chase & Co. grew its position in shares of Western Alliance Bancorporation by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,240,385 shares of the financial services provider’s stock worth $99,495,000 after buying an additional 204,893 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Western Alliance Bancorporation by 16.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,167,136 shares of the financial services provider’s stock worth $47,899,000 after buying an additional 161,093 shares during the period. FMR LLC grew its position in shares of Western Alliance Bancorporation by 52.0% during the 1st quarter. FMR LLC now owns 451,964 shares of the financial services provider’s stock worth $18,549,000 after buying an additional 154,596 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 18,494.0% during the 1st quarter. Acadian Asset Management LLC now owns 154,144 shares of the financial services provider’s stock worth $6,325,000 after buying an additional 153,315 shares during the period. 83.32% of the stock is owned by institutional investors and hedge funds.

Shares of Western Alliance Bancorporation stock traded down $0.04 during trading on Monday, hitting $47.22. 16,506 shares of the company were exchanged, compared to its average volume of 752,124. The firm has a market capitalization of $4.86 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. Western Alliance Bancorporation has a 1-year low of $37.39 and a 1-year high of $60.01. The firm’s fifty day moving average price is $44.73 and its 200 day moving average price is $44.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.94.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.03. Western Alliance Bancorporation had a return on equity of 17.76% and a net margin of 39.87%. The business had revenue of $267.30 million during the quarter, compared to analyst estimates of $274.37 million. During the same period in the previous year, the firm earned $0.99 EPS. Western Alliance Bancorporation’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 4.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. Western Alliance Bancorporation’s dividend payout ratio is presently 24.15%.

Several research firms have recently issued reports on WAL. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 29th. Wedbush restated an “outperform” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Western Alliance Bancorporation has an average rating of “Buy” and a consensus price target of $58.00.

Western Alliance Bancorporation Company Profile

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.

Further Reading: Mutual Funds

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

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