NGAM Advisors L.P. Purchases 1,285 Shares of Western Alliance Bancorporation (WAL)

NGAM Advisors L.P. boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 17,790 shares of the financial services provider’s stock after buying an additional 1,285 shares during the period. NGAM Advisors L.P.’s holdings in Western Alliance Bancorporation were worth $875,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Solaris Asset Management LLC boosted its stake 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. BB&T Corp boosted its stake in shares of Western Alliance Bancorporation by 0.7% in the second quarter. BB&T Corp now owns 20,870 shares of the financial services provider’s stock valued at $1,027,000 after buying an additional 155 shares during the last quarter. First Interstate Bank boosted its stake in shares of Western Alliance Bancorporation by 2.9% in the first quarter. First Interstate Bank now owns 5,915 shares of the financial services provider’s stock valued at $290,000 after buying an additional 165 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in shares of Western Alliance Bancorporation by 1.1% in the second quarter. Tealwood Asset Management Inc. now owns 37,305 shares of the financial services provider’s stock valued at $1,835,000 after buying an additional 420 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Western Alliance Bancorporation by 2.4% in the first quarter. IFP Advisors Inc now owns 21,639 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 504 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at 46.72 on Friday. The company has a market cap of $4.87 billion, a PE ratio of 16.87 and a beta of 1.73. The firm’s 50-day moving average price is $49.60 and its 200-day moving average price is $48.99. Western Alliance Bancorporation has a 12 month low of $35.56 and a 12 month high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same quarter last year, the firm earned $0.62 EPS. Equities analysts predict that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.

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Several equities research analysts recently commented on the company. BidaskClub raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, July 25th. Barclays PLC reissued an “overweight” rating and issued a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. Jefferies Group LLC lowered their price target on Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, May 22nd. Finally, Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Monday, June 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Western Alliance Bancorporation has a consensus rating of “Buy” and an average target price of $57.20.

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

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

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