Western Alliance Bancorporation (WAL) Shares Sold by Mesirow Financial Investment Management Equity Management

Mesirow Financial Investment Management Equity Management cut its stake in Western Alliance Bancorporation (NYSE:WAL) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,354 shares of the financial services provider’s stock after selling 10,950 shares during the quarter. Mesirow Financial Investment Management Equity Management owned approximately 0.32% of Western Alliance Bancorporation worth $17,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WAL. Winfield Associates Inc. increased its position in 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 acquiring an additional 20 shares during the period. Alps Advisors Inc. increased its position in Western Alliance Bancorporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,257 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 24 shares during the period. ProShare Advisors LLC increased its position in Western Alliance Bancorporation by 0.3% during the second quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 48 shares during the period. First Interstate Bank increased its position in Western Alliance Bancorporation by 2.5% during the second quarter. First Interstate Bank now owns 6,065 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 150 shares during the period. Finally, Renaissance Group LLC increased its position in Western Alliance Bancorporation by 2.0% during the second quarter. Renaissance Group LLC now owns 7,688 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 150 shares during the period. 81.55% of the stock is currently owned by institutional investors.

In related news, Director Sung Won Sohn sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $55.89, for a total value of $279,450.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $56.49, for a total transaction of $225,960.00. Following the completion of the transaction, the executive vice president now owns 23,200 shares in the company, valued at $1,310,568. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,000 shares of company stock worth $14,230,910. 7.95% of the stock is owned by company insiders.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. Western Alliance Bancorporation’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share.

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A number of research firms recently commented on WAL. Piper Jaffray Companies reaffirmed a “buy” rating and set a $64.50 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Barclays PLC set a $65.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 23rd. BidaskClub lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, September 5th. Finally, SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a research report on Friday, August 18th. They set a “buy” rating and a $59.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $62.06.

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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