Western Alliance Bancorp (NYSE:WAL) shares gapped up prior to trading on Friday . The stock had previously closed at $33.72, but opened at $34.06. Western Alliance Bancorp shares last traded at $35.27, with a volume of 327,096 shares trading hands.

A number of research analysts have issued reports on WAL shares. Piper Jaffray Cos. restated a “buy” rating and issued a $42.50 target price (up from $41.00) on shares of Western Alliance Bancorp in a report on Monday, April 25th. Zacks Investment Research upgraded shares of Western Alliance Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $39.50.

The company’s 50-day moving average is $33.50 and its 200-day moving average is $33.33. The firm has a market cap of $3.62 billion and a PE ratio of 15.31.

Western Alliance Bancorp (NYSE:WAL) last released its earnings results on Thursday, July 21st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Equities research analysts expect that Western Alliance Bancorp will post $2.54 EPS for the current fiscal year.

In related news, Director Donald D. Snyder sold 15,000 shares of Western Alliance Bancorp stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $34.00, for a total value of $510,000.00. Following the transaction, the director now owns 117,579 shares of the company’s stock, valued at approximately $3,997,686. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marianne Boyd Johnson sold 5,000 shares of Western Alliance Bancorp stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $37.76, for a total value of $188,800.00. Following the completion of the transaction, the director now directly owns 7,795 shares in the company, valued at approximately $294,339.20. The disclosure for this sale can be found here.

A number of institutional investors recently modified their holdings of WAL. US Bancorp DE boosted its position in shares of Western Alliance Bancorp by 2.5% in the fourth quarter. US Bancorp DE now owns 61,487 shares of the financial services provider’s stock worth $2,205,000 after buying an additional 1,501 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Western Alliance Bancorp by 0.3% in the fourth quarter. Wells Fargo & Company MN now owns 606,186 shares of the financial services provider’s stock worth $21,738,000 after buying an additional 1,808 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Western Alliance Bancorp by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 394,014 shares of the financial services provider’s stock worth $14,129,000 after buying an additional 8,163 shares in the last quarter. Fiduciary Management Associates LLC boosted its position in shares of Western Alliance Bancorp by 7.3% in the fourth quarter. Fiduciary Management Associates LLC now owns 710,748 shares of the financial services provider’s stock worth $25,486,000 after buying an additional 48,280 shares in the last quarter. Finally, RS Investment Management Co. LLC boosted its position in shares of Western Alliance Bancorp by 8.0% in the fourth quarter. RS Investment Management Co. LLC now owns 2,254,432 shares of the financial services provider’s stock worth $80,844,000 after buying an additional 166,868 shares in the last quarter.

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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