Western Alliance Bancorp (NYSE:WAL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.29, but opened at $31.47. Western Alliance Bancorp shares last traded at $31.79, with a volume of 322,796 shares changing hands.

A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Western Alliance Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 25th. Piper Jaffray Cos. reissued a “buy” rating and set a $42.50 price target (up from $41.00) on shares of Western Alliance Bancorp in a research report on Monday, April 25th. Finally, Longbow Research raised shares of Western Alliance Bancorp from a “market perform” rating to an “outperform” rating in a research report on Wednesday, March 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Western Alliance Bancorp has a consensus rating of “Buy” and an average target price of $39.50.

The company’s 50 day moving average is $34.75 and its 200-day moving average is $33.35. The company has a market cap of $3.31 billion and a price-to-earnings ratio of 14.90.

Western Alliance Bancorp (NYSE:WAL) last released its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company had revenue of $157.80 million for the quarter, compared to analyst estimates of $164.23 million. Western Alliance Bancorp’s revenue for the quarter was up 45.0% compared to the same quarter last year. Equities analysts predict that Western Alliance Bancorp will post $2.53 earnings per share for the current fiscal year.

In related news, EVP Robert Reoch Mcauslan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $36.49, for a total transaction of $364,900.00. Following the completion of the transaction, the executive vice president now directly owns 43,323 shares in the company, valued at approximately $1,580,856.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marianne Boyd Johnson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $37.76, for a total transaction of $188,800.00. Following the transaction, the director now owns 7,795 shares of the company’s stock, valued at $294,339.20. The disclosure for this sale can be found here.

A number of institutional investors recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in Western Alliance Bancorp by 10.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 78,138 shares of the financial services provider’s stock worth $2,802,000 after buying an additional 7,243 shares in the last quarter. Sei Investments Co. boosted its position in shares of Western Alliance Bancorp by 249.9% in the fourth quarter. Sei Investments Co. now owns 255,149 shares of the financial services provider’s stock valued at $9,150,000 after buying an additional 182,232 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Western Alliance Bancorp by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 728,855 shares of the financial services provider’s stock valued at $26,137,000 after buying an additional 6,753 shares during the period. TD Asset Management Inc. boosted its position in shares of Western Alliance Bancorp by 11.3% in the fourth quarter. TD Asset Management Inc. now owns 38,500 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 3,900 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of Western Alliance Bancorp by 16.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 72,942 shares of the financial services provider’s stock valued at $2,622,000 after buying an additional 10,400 shares during the period.

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

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