Western Alliance Bancorporation (WAL) Shares Bought by Brinker Capital Inc.

Brinker Capital Inc. boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 25.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,167 shares of the financial services provider’s stock after buying an additional 9,432 shares during the quarter. Brinker Capital Inc.’s holdings in Western Alliance Bancorporation were worth $1,936,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Western Alliance Bancorporation by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,832,108 shares of the financial services provider’s stock valued at $104,229,000 after purchasing an additional 95,626 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Western Alliance Bancorporation by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 459,863 shares of the financial services provider’s stock valued at $26,161,000 after purchasing an additional 8,849 shares during the last quarter. FMR LLC grew its stake in Western Alliance Bancorporation by 5.9% during the 3rd quarter. FMR LLC now owns 313,577 shares of the financial services provider’s stock valued at $17,840,000 after purchasing an additional 17,567 shares during the last quarter. Deutsche Bank AG grew its stake in Western Alliance Bancorporation by 266.1% during the 3rd quarter. Deutsche Bank AG now owns 246,910 shares of the financial services provider’s stock valued at $14,044,000 after purchasing an additional 179,458 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in Western Alliance Bancorporation by 6.1% during the 3rd quarter. Macquarie Group Ltd. now owns 339,470 shares of the financial services provider’s stock valued at $19,312,000 after purchasing an additional 19,387 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

In other news, insider Robert Gary Sarver sold 66,351 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $46.71, for a total value of $3,099,255.21. Following the sale, the insider now owns 59,504 shares in the company, valued at $2,779,431.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Randall S. Theisen sold 2,370 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $46.09, for a total value of $109,233.30. Following the completion of the sale, the executive vice president now owns 9,179 shares in the company, valued at approximately $423,060.11. The disclosure for this sale can be found here. Insiders sold 80,829 shares of company stock worth $3,766,540 in the last 90 days. Company insiders own 7.48% of the company’s stock.

Shares of WAL opened at $47.80 on Friday. Western Alliance Bancorporation has a 52 week low of $37.39 and a 52 week high of $64.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $4.99 billion, a PE ratio of 11.55, a P/E/G ratio of 0.89 and a beta of 1.52.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, April 22nd. The financial services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Western Alliance Bancorporation had a return on equity of 18.24% and a net margin of 40.08%. The firm had revenue of $259.90 million for the quarter, compared to the consensus estimate of $266.48 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts predict that Western Alliance Bancorporation will post 4.65 EPS for the current fiscal year.

WAL has been the topic of several research analyst reports. Citigroup upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and dropped their price target for the company from $56.00 to $53.00 in a research note on Tuesday, January 15th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, March 6th. Finally, Wells Fargo & Co boosted their price target on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $59.88.

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About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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

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