Dearborn Partners LLC Buys Shares of 3,871 Western Alliance Bancorporation (WAL)

Dearborn Partners LLC bought a new position in Western Alliance Bancorporation (NYSE:WAL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,871 shares of the financial services provider’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westfield Capital Management Co. LP grew its holdings in Western Alliance Bancorporation by 78.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,114,177 shares of the financial services provider’s stock worth $59,141,000 after acquiring an additional 489,157 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Western Alliance Bancorporation by 9.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 437,441 shares of the financial services provider’s stock worth $23,220,000 after acquiring an additional 36,723 shares during the last quarter. Barings LLC grew its holdings in Western Alliance Bancorporation by 301.9% during the 3rd quarter. Barings LLC now owns 21,700 shares of the financial services provider’s stock worth $1,152,000 after acquiring an additional 16,300 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Western Alliance Bancorporation by 25.3% during the 3rd quarter. Wells Fargo & Company MN now owns 252,733 shares of the financial services provider’s stock worth $13,416,000 after acquiring an additional 50,976 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Western Alliance Bancorporation by 5.9% during the 3rd quarter. Schroder Investment Management Group now owns 2,174,113 shares of the financial services provider’s stock worth $114,119,000 after acquiring an additional 120,269 shares during the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

WAL has been the topic of a number of research analyst reports. SunTrust Banks increased their price objective on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Tuesday, September 12th. Jefferies Group reissued a “buy” rating and set a $63.00 price objective on shares of Western Alliance Bancorporation in a report on Thursday, October 12th. Barclays set a $62.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, BidaskClub lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $62.06.

Shares of Western Alliance Bancorporation (NYSE:WAL) traded up $0.02 during midday trading on Monday, hitting $58.20. 840,000 shares of the stock traded hands, compared to its average volume of 646,590. The company has a market cap of $6,139.52, a price-to-earnings ratio of 19.73, a PEG ratio of 1.67 and a beta of 1.76. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $59.70.

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

In related news, Director Marianne Boyd Johnson sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total value of $217,680.00. Following the sale, the director now directly owns 3,295 shares in the company, valued at approximately $179,313.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Gary Sarver sold 100,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $55.22, for a total transaction of $5,522,000.00. Following the completion of the sale, the chief executive officer now owns 54,000 shares in the company, valued at $2,981,880. The disclosure for this sale can be found here. Insiders sold a total of 173,000 shares of company stock worth $9,611,590 in the last ninety days. Insiders own 7.95% of the company’s stock.

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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.

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

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