Columbia Partners L L C Investment Management Has $3.91 Million Stake in Western Alliance Bancorporation (WAL)

Columbia Partners L L C Investment Management lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,374 shares of the financial services provider’s stock after selling 16,150 shares during the period. Columbia Partners L L C Investment Management owned 0.08% of Western Alliance Bancorporation worth $3,905,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WAL. BlackRock Inc. raised its holdings in shares of Western Alliance Bancorporation by 7,273.7% during the 1st quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after acquiring an additional 4,279,862 shares during the period. Eagle Asset Management Inc. raised its holdings in shares of Western Alliance Bancorporation by 532.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock worth $35,521,000 after acquiring an additional 607,885 shares during the period. Thrivent Financial For Lutherans raised its holdings in shares of Western Alliance Bancorporation by 1,003.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 572,292 shares of the financial services provider’s stock worth $28,157,000 after acquiring an additional 520,412 shares during the period. Wellington Management Group LLP raised its holdings in shares of Western Alliance Bancorporation by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 4,813,169 shares of the financial services provider’s stock worth $236,279,000 after acquiring an additional 429,488 shares during the period. Finally, Fiera Capital Corp raised its holdings in shares of Western Alliance Bancorporation by 100.8% during the 2nd quarter. Fiera Capital Corp now owns 768,693 shares of the financial services provider’s stock worth $37,820,000 after acquiring an additional 385,877 shares during the period. Institutional investors and hedge funds own 81.23% of the company’s stock.

Shares of Western Alliance Bancorporation (WAL) traded up 1.2231% during mid-day trading on Monday, reaching $47.8684. 156,326 shares of the company traded hands. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 17.2873 and a beta of 1.75. The company’s 50 day moving average is $48.26 and its 200 day moving average is $48.48. Western Alliance Bancorporation has a 52-week low of $35.56 and a 52-week high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same period last year, the company earned $0.62 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post $3.04 earnings per share for the current year.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total value of $4,837,000.00. Following the sale, the chairman now directly owns 54,000 shares of the company’s stock, valued at approximately $2,611,980. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.95% of the stock is currently owned by company insiders.

Several research firms have recently commented on WAL. Jefferies Group LLC reiterated a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, July 25th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, July 25th. Barclays PLC reiterated an “overweight” rating and set a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. BidaskClub upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.00.

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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.

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

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