Investment Counselors of Maryland LLC held its position in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,790 shares of the financial services provider’s stock at the end of the second quarter. Investment Counselors of Maryland LLC’s holdings in Western Alliance Bancorporation were worth $186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rothschild Asset Management Inc. increased its stake in Western Alliance Bancorporation by 6.8% in the second quarter. Rothschild Asset Management Inc. now owns 295,622 shares of the financial services provider’s stock valued at $14,545,000 after buying an additional 18,701 shares during the last quarter. Winfield Associates Inc. increased its stake in Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares during the last quarter. NGAM Advisors L.P. increased its stake in Western Alliance Bancorporation by 7.8% in the second quarter. NGAM Advisors L.P. now owns 17,790 shares of the financial services provider’s stock valued at $875,000 after buying an additional 1,285 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Western Alliance Bancorporation by 15.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 504,360 shares of the financial services provider’s stock valued at $24,815,000 after buying an additional 69,206 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Western Alliance Bancorporation by 32.7% in the second quarter. Russell Investments Group Ltd. now owns 189,896 shares of the financial services provider’s stock valued at $9,347,000 after buying an additional 46,758 shares during the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at 50.64 on Monday. The stock has a 50 day moving average price of $49.36 and a 200 day moving average price of $48.95. The firm has a market cap of $5.27 billion, a P/E ratio of 18.29 and a beta of 1.73. Western Alliance Bancorporation has a 12-month low of $34.48 and a 12-month high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The company had revenue of $203.19 million for the quarter, compared to analysts’ expectations of $203.71 million. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, equities analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current year.

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Several equities research analysts have recently commented on WAL shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a report on Monday, April 10th. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, May 5th. BidaskClub downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Barclays PLC reissued an “overweight” rating and issued a $59.00 price objective (up previously from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $57.20.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 65,448 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $50.39, for a total value of $3,297,924.72. Following the transaction, the chairman now owns 54,000 shares of the company’s stock, valued at $2,721,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.95% of the stock is owned by insiders.

Western Alliance Bancorporation Company Profile

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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