Cipher Capital LP Purchases 22,779 Shares of Western Alliance Bancorporation (WAL)

Cipher Capital LP lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,794 shares of the financial services provider’s stock after buying an additional 22,779 shares during the quarter. Western Alliance Bancorporation makes up 0.6% of Cipher Capital LP’s investment portfolio, making the stock its 14th largest position. Cipher Capital LP owned about 0.15% of Western Alliance Bancorporation worth $8,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WAL. BNP Paribas Arbitrage SA grew its holdings in shares of Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,060 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $133,000. Winfield Associates Inc. grew its holdings in shares of Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after buying an additional 20 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Western Alliance Bancorporation by 15.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after buying an additional 469 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Western Alliance Bancorporation during the second quarter worth about $202,000. Institutional investors and hedge funds own 81.24% of the company’s stock.

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In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 50,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $56.22, for a total transaction of $2,811,000.00. Following the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at $3,035,880. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $56.49, for a total transaction of $225,960.00. Following the transaction, the executive vice president now directly owns 23,200 shares in the company, valued at $1,310,568. The disclosure for this sale can be found here. Insiders sold 169,000 shares of company stock worth $9,393,910 over the last three months. Corporate insiders own 7.95% of the company’s stock.

WAL has been the subject of a number of recent research reports. SunTrust Banks, Inc. initiated coverage on shares of Western Alliance Bancorporation in a report on Friday, August 18th. They set a “buy” rating and a $59.00 price target for the company. 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 shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday, September 8th. Finally, Barclays PLC set a $62.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $62.06.

Western Alliance Bancorporation (NYSE:WAL) traded up $0.08 on Friday, hitting $54.24. 366,500 shares of the company traded hands, compared to its average volume of 652,455. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. Western Alliance Bancorporation has a twelve month low of $43.68 and a twelve month high of $57.04. The firm has a market capitalization of $5,713.34, a PE ratio of 18.36, a PEG ratio of 1.56 and a beta of 1.77.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 39.11% and a return on equity of 15.81%. The business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $212.27 million. During the same period last year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. research analysts expect that Western Alliance Bancorporation will post 3.07 earnings per share for the current year.

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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