UBS Asset Management Americas Inc. Has $3.42 Million Stake in Western Alliance Bancorporation (WAL)

UBS Asset Management Americas Inc. lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,580 shares of the financial services provider’s stock after acquiring an additional 14,030 shares during the quarter. UBS Asset Management Americas Inc. owned 0.07% of Western Alliance Bancorporation worth $3,423,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nicholas Investment Partners LP increased its position in shares of 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 worth $6,612,000 after acquiring an additional 6,944 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Western Alliance Bancorporation by 18.6% during the second quarter. New York State Common Retirement Fund now owns 445,997 shares of the financial services provider’s stock worth $21,943,000 after acquiring an additional 70,036 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Western Alliance Bancorporation by 1,003.1% during the second quarter. Thrivent Financial For Lutherans now owns 572,292 shares of the financial services provider’s stock worth $28,157,000 after acquiring an additional 520,412 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Western Alliance Bancorporation by 49.3% during the second quarter. Westfield Capital Management Co. LP now owns 625,020 shares of the financial services provider’s stock worth $30,751,000 after acquiring an additional 206,260 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Western Alliance Bancorporation by 0.3% during the second quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 48 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the company. Barclays PLC set a $62.00 target price on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $63.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Saturday, September 23rd. Finally, BidaskClub raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $59.33.

In related news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total value of $4,837,000.00. Following the completion of the transaction, the chairman now owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.95% of the stock is currently owned by company insiders.

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Shares of Western Alliance Bancorporation (NYSE WAL) opened at 53.38 on Thursday. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 19.28 and a beta of 1.75. Western Alliance Bancorporation has a one year low of $35.56 and a one year high of $54.29. The company has a 50-day moving average price of $49.70 and a 200 day moving average price of $48.61.

Western Alliance Bancorporation (NYSE:WAL) last released 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. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The business had revenue of $203.19 million during the quarter, compared to analysts’ expectations of $203.71 million. During the same quarter last year, the company earned $0.62 earnings per share. On average, analysts forecast that Western Alliance Bancorporation will post $3.05 EPS for the current fiscal year.

About Western Alliance Bancorporation

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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