Western Alliance Bancorp (NYSE:WAL) shares gapped up before the market opened on Friday . The stock had previously closed at $36.88, but opened at $36.91. Western Alliance Bancorp shares last traded at $37.42, with a volume of 442,492 shares trading hands.

Separately, Zacks Investment Research lowered Western Alliance Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $39.50.

The company has a 50 day moving average price of $34.97 and a 200-day moving average price of $33.84. The firm has a market capitalization of $3.85 billion and a price-to-earnings ratio of 16.26.

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

In other news, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert Reoch Mcauslan sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $36.50, for a total value of $73,000.00. Following the transaction, the executive vice president now directly owns 41,323 shares in the company, valued at approximately $1,508,289.50. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in 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. Morgan Stanley boosted its position in Western Alliance Bancorp by 540.3% in the fourth quarter. Morgan Stanley now owns 423,685 shares of the financial services provider’s stock worth $15,194,000 after buying an additional 357,513 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in Western Alliance Bancorp during the fourth quarter worth approximately $28,864,000.

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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