Tygh Capital Management Inc. Sells 1,187 Shares of Western Alliance Bancorporation (WAL)

Tygh Capital Management Inc. trimmed its holdings in Western Alliance Bancorporation (NYSE:WAL) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,231 shares of the financial services provider’s stock after selling 1,187 shares during the period. Western Alliance Bancorporation comprises about 1.8% of Tygh Capital Management Inc.’s holdings, making the stock its 9th largest position. Tygh Capital Management Inc. owned approximately 0.15% of Western Alliance Bancorporation worth $9,253,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WAL. Nisa Investment Advisors LLC lifted its stake in shares of Western Alliance Bancorporation by 113.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 13,900 shares of the financial services provider’s stock valued at $787,000 after buying an additional 7,400 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Western Alliance Bancorporation by 8.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 472,392 shares of the financial services provider’s stock valued at $26,747,000 after buying an additional 34,951 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Western Alliance Bancorporation by 18.5% in the fourth quarter. Fox Run Management L.L.C. now owns 10,544 shares of the financial services provider’s stock valued at $597,000 after buying an additional 1,644 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at $367,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Western Alliance Bancorporation by 0.3% in the fourth quarter. GW&K Investment Management LLC now owns 320,452 shares of the financial services provider’s stock valued at $18,144,000 after buying an additional 958 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Robert Gary Sarver sold 67,057 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $59.95, for a total transaction of $4,020,067.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sung Won Sohn sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the director now owns 5,310 shares of the company’s stock, valued at approximately $318,600. The disclosure for this sale can be found here. Insiders have sold 90,307 shares of company stock valued at $5,417,324 in the last 90 days. 7.48% of the stock is currently owned by corporate insiders.

Shares of WAL stock opened at $61.43 on Monday. The stock has a market capitalization of $6.50 billion, a PE ratio of 19.82, a PEG ratio of 1.17 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.91. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $62.49.

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

A number of research firms have weighed in on WAL. Sandler O’Neill reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. SunTrust Banks reiterated a “buy” rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a report on Monday, January 29th. Barclays reiterated a “buy” rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 30th. Wells Fargo upgraded shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Monday, January 29th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $68.00 target price on shares of Western Alliance Bancorporation in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.79.

Western Alliance Bancorporation 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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