Crestline Management LP Sells 30,000 Shares of Western Alliance Bancorporation (WAL)

Crestline Management LP reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 53.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the financial services provider’s stock after selling 30,000 shares during the period. Crestline Management LP’s holdings in Western Alliance Bancorporation were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 valued at $366,298,000 after buying an additional 195,031 shares in the last quarter. Swiss National Bank raised its holdings 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 valued at $8,182,000 after buying an additional 9,900 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in 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 buying an additional 607,885 shares in the last quarter. Nicholas Investment Partners LP raised its holdings in 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 buying an additional 6,944 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Western Alliance Bancorporation by 15.3% during the second quarter. Advisors Asset Management Inc. now owns 19,190 shares of the financial services provider’s stock valued at $944,000 after buying an additional 2,541 shares in the last quarter. Institutional investors own 81.82% of the company’s stock.

In related news, Director William S. Boyd sold 10,000 shares of Western Alliance Bancorporation stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $55.55, for a total transaction of $555,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marianne Boyd Johnson sold 4,000 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $54.42, for a total value of $217,680.00. Following the sale, the director now directly owns 3,295 shares in the company, valued at $179,313.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,000 shares of company stock worth $9,611,590. 7.95% of the stock is owned by company insiders.

Several equities research analysts have recently issued reports on the company. SunTrust Banks raised their price target on Western Alliance Bancorporation from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. DA Davidson reaffirmed a “buy” rating and issued a $64.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Barclays set a $65.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $62.06.

Shares of Western Alliance Bancorporation (WAL) traded down $1.03 during trading hours on Tuesday, hitting $57.94. The stock had a trading volume of 524,700 shares, compared to its average volume of 645,486. The firm has a market capitalization of $6,220.75, a P/E ratio of 19.99, a P/E/G ratio of 1.69 and a beta of 1.76. Western Alliance Bancorporation has a 12 month low of $44.64 and a 12 month high of $60.25. 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 issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. research analysts predict that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

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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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