Mesirow Financial Investment Management Equity Management Has $1.58 Million Position in Western Alliance Bancorporation (WAL)

Mesirow Financial Investment Management Equity Management reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 13.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,090 shares of the financial services provider’s stock after selling 4,270 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Western Alliance Bancorporation were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Buckley Wealth Management LLC acquired a new position in Western Alliance Bancorporation during the first quarter worth $306,000. US Bancorp DE raised its position in Western Alliance Bancorporation by 2.3% during the first quarter. US Bancorp DE now owns 41,510 shares of the financial services provider’s stock worth $2,411,000 after acquiring an additional 922 shares during the period. GW&K Investment Management LLC raised its position in Western Alliance Bancorporation by 7.6% during the first quarter. GW&K Investment Management LLC now owns 344,936 shares of the financial services provider’s stock worth $20,044,000 after acquiring an additional 24,484 shares during the period. Aperio Group LLC raised its position in Western Alliance Bancorporation by 11.6% during the first quarter. Aperio Group LLC now owns 20,041 shares of the financial services provider’s stock worth $1,165,000 after acquiring an additional 2,088 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Western Alliance Bancorporation by 9.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 515,900 shares of the financial services provider’s stock worth $29,979,000 after acquiring an additional 43,508 shares during the period. Hedge funds and other institutional investors own 83.98% of the company’s stock.

Shares of Western Alliance Bancorporation opened at $61.43 on Friday, according to MarketBeat Ratings. The stock has a market capitalization of $6.57 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.18 and a beta of 1.57. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. Western Alliance Bancorporation has a 52 week low of $44.64 and a 52 week high of $62.49.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, April 19th. The financial services provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.03. The business had revenue of $226.90 million during the quarter, compared to analysts’ expectations of $232.59 million. Western Alliance Bancorporation had a net margin of 37.80% and a return on equity of 16.18%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. equities research analysts predict that Western Alliance Bancorporation will post 4.05 EPS for the current fiscal year.

In other news, Chairman Robert Gary Sarver sold 67,057 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $59.95, for a total value of $4,020,067.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sung Won Sohn sold 2,500 shares of the stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 5,310 shares of the company’s stock, valued at $318,600. The disclosure for this sale can be found here. Insiders sold 90,307 shares of company stock valued at $5,417,324 over the last quarter. Company insiders own 7.95% of the company’s stock.

A number of equities analysts have weighed in on WAL shares. UBS started coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, March 21st. They set a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. ValuEngine upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Sandler O’Neill restated a “buy” rating and set a $68.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, April 20th. Finally, DA Davidson restated a “buy” rating on shares of Western Alliance Bancorporation in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $66.79.

Western Alliance Bancorporation Company Profile

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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