Sippican Capital Advisors reduced its position in shares of Western Alliance Bancorp (NYSE:WAL) by 15.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,030 shares of the financial services provider’s stock after selling 11,250 shares during the period. Western Alliance Bancorp makes up approximately 2.4% of Sippican Capital Advisors’ portfolio, making the stock its 7th largest position. Sippican Capital Advisors’ holdings in Western Alliance Bancorp were worth $2,058,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of Western Alliance Bancorp by 657.0% in the first quarter. Goldman Sachs Group Inc. now owns 978,872 shares of the financial services provider’s stock worth $32,674,000 after buying an additional 849,566 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Western Alliance Bancorp by 3.2% in the second quarter. Eagle Asset Management Inc. now owns 106,970 shares of the financial services provider’s stock worth $3,492,000 after buying an additional 3,328 shares in the last quarter. First Republic Investment Management Inc. increased its stake in shares of Western Alliance Bancorp by 96.0% in the first quarter. First Republic Investment Management Inc. now owns 65,925 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 32,284 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Western Alliance Bancorp by 78.4% in the first quarter. Renaissance Technologies LLC now owns 849,920 shares of the financial services provider’s stock worth $28,370,000 after buying an additional 373,600 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Western Alliance Bancorp by 3.0% in the first quarter. State Street Corp now owns 3,448,362 shares of the financial services provider’s stock worth $115,105,000 after buying an additional 99,325 shares in the last quarter. 79.12% of the stock is currently owned by institutional investors.

Shares of Western Alliance Bancorp (NYSE:WAL) traded up 0.32% on Thursday, hitting $37.20. 622,617 shares of the stock traded hands. The firm has a market cap of $3.82 billion, a P/E ratio of 16.14 and a beta of 1.61. The firm’s 50-day moving average is $36.50 and its 200 day moving average is $34.78. Western Alliance Bancorp has a 12-month low of $26.60 and a 12-month high of $39.11.

Western Alliance Bancorp (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Western Alliance Bancorp had a net margin of 35.86% and a return on equity of 14.48%. Equities research analysts forecast that Western Alliance Bancorp will post $2.54 EPS for the current fiscal year.

WAL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Western Alliance Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 25th. Jefferies Group reissued a “buy” rating and issued a $42.00 price objective on shares of Western Alliance Bancorp in a research report on Tuesday, September 13th. Finally, Wells Fargo & Co. initiated coverage on shares of Western Alliance Bancorp in a research report on Thursday, September 1st. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $39.70.

In other Western Alliance Bancorp news, EVP James Harwood Lundy III sold 7,000 shares of Western Alliance Bancorp stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $36.34, for a total transaction of $254,380.00. Following the transaction, the executive vice president now directly owns 85,906 shares of the company’s stock, valued at $3,121,824.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Donald D. Snyder sold 15,000 shares of Western Alliance Bancorp stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $510,000.00. Following the transaction, the director now directly owns 117,579 shares in the company, valued at $3,997,686. The disclosure for this sale can be found here. Company insiders own 10.27% of the company’s stock.

Western Alliance Bancorp Company Profile

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.

5 Day Chart for NYSE:WAL

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