Western Alliance Bancorporation (NYSE:WAL) Position Boosted by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 401,538 shares of the financial services provider’s stock after purchasing an additional 4,215 shares during the quarter. American Century Companies Inc. owned about 0.39% of Western Alliance Bancorporation worth $19,756,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WAL. Vanguard Group Inc. increased its holdings in shares of Western Alliance Bancorporation by 4.4% during the first quarter. Vanguard Group Inc. now owns 7,250,046 shares of the financial services provider’s stock valued at $355,905,000 after acquiring an additional 303,860 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Western Alliance Bancorporation by 9.8% during the first quarter. Wellington Management Group LLP now owns 4,813,169 shares of the financial services provider’s stock valued at $236,279,000 after buying an additional 429,488 shares during the last quarter. BlackRock Inc. boosted its position in shares of Western Alliance Bancorporation by 7,273.7% during the first quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock valued at $212,988,000 after buying an additional 4,279,862 shares during the last quarter. State Street Corp boosted its position in shares of Western Alliance Bancorporation by 11.4% during the first quarter. State Street Corp now owns 3,330,587 shares of the financial services provider’s stock valued at $163,494,000 after buying an additional 341,611 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Western Alliance Bancorporation by 18.3% during the first quarter. JPMorgan Chase & Co. now owns 2,104,213 shares of the financial services provider’s stock valued at $103,296,000 after buying an additional 325,128 shares during the last quarter. Institutional investors and hedge funds own 81.33% of the company’s stock.

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Several research firms have weighed in on WAL. Royal Bank Of Canada reissued a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Tuesday. BidaskClub cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, July 25th. Finally, SunTrust Banks, Inc. started coverage on 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 and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $57.00.

Shares of Western Alliance Bancorporation (NYSE:WAL) traded up 0.28% during trading on Friday, reaching $47.29. The company’s stock had a trading volume of 1,483,437 shares. Western Alliance Bancorporation has a 12-month low of $35.56 and a 12-month high of $53.84. The company has a market cap of $4.93 billion, a PE ratio of 17.08 and a beta of 1.75. The company has a 50 day moving average of $48.26 and a 200 day moving average of $48.48.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The firm had revenue of $203.19 million during the quarter, compared to the consensus estimate of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same quarter last year, the firm earned $0.62 EPS. On average, analysts anticipate that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.

In related news, Chairman Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the sale, the chairman now directly owns 54,000 shares in the company, valued at approximately $2,611,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.95% of the stock is owned by company insiders.

Western Alliance Bancorporation 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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