Zweig DiMenna Associates LLC Has $13.09 Million Position in Western Alliance Bancorporation (WAL)

Zweig DiMenna Associates LLC lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 37.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,540 shares of the financial services provider’s stock after selling 147,615 shares during the quarter. Western Alliance Bancorporation accounts for about 1.2% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 28th biggest position. Zweig DiMenna Associates LLC owned about 0.23% of Western Alliance Bancorporation worth $13,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WAL. Vanguard Group Inc. grew its stake in Western Alliance Bancorporation by 2.7% during the second quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after buying an additional 195,031 shares during the last quarter. Swiss National Bank grew its stake in Western Alliance Bancorporation by 6.3% during the second quarter. Swiss National Bank now owns 166,300 shares of the financial services provider’s stock worth $8,182,000 after buying an additional 9,900 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Western Alliance Bancorporation by 532.8% during the second quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock valued at $35,521,000 after purchasing an additional 607,885 shares during the last quarter. Nicholas Investment Partners LP grew its stake in shares of Western Alliance Bancorporation by 5.4% during the second quarter. Nicholas Investment Partners LP now owns 134,428 shares of the financial services provider’s stock valued at $6,612,000 after purchasing an additional 6,944 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Western Alliance Bancorporation by 0.7% during the second quarter. Rhumbline Advisers now owns 116,739 shares of the financial services provider’s stock valued at $5,744,000 after purchasing an additional 859 shares during the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.

WAL has been the topic of several analyst reports. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. SunTrust Banks, Inc. 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 research report on Thursday, October 26th. Piper Jaffray Companies reissued a “buy” rating and set a $64.50 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Finally, Barclays PLC set a $65.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 23rd. One investment 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. The company currently has a consensus rating of “Buy” and an average price target of $62.06.

In other news, EVP Robert Reoch Mcauslan sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $56.49, for a total transaction of $225,960.00. Following the completion of the sale, the executive vice president now owns 23,200 shares in the company, valued at approximately $1,310,568. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction dated Monday, October 23rd. The stock was 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 of the company’s stock, valued at approximately $2,981,880. The disclosure for this sale can be found here. In the last three months, insiders sold 269,000 shares of company stock valued at $14,230,910. Insiders own 7.95% of the company’s stock.

Shares of Western Alliance Bancorporation (NYSE:WAL) traded down $0.25 on Friday, hitting $53.42. 349,400 shares of the stock were exchanged, compared to its average volume of 753,075. Western Alliance Bancorporation has a 52 week low of $42.32 and a 52 week high of $57.04. The company has a market cap of $5,635.28, a P/E ratio of 18.11, a PEG ratio of 1.53 and a beta of 1.77. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17.

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

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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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