Monarch Partners Asset Management LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 202.7% during the second quarter, Holdings Channel reports. The firm owned 394,920 shares of the financial services provider’s stock after buying an additional 264,435 shares during the period. Western Alliance Bancorporation comprises 1.9% of Monarch Partners Asset Management LLC’s holdings, making the stock its 3rd largest position. Monarch Partners Asset Management LLC’s holdings in Western Alliance Bancorporation were worth $19,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its position in Western Alliance Bancorporation by 76.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 435,154 shares of the financial services provider’s stock valued at $21,362,000 after buying an additional 187,933 shares during the period. Great West Life Assurance Co. Can increased its position in Western Alliance Bancorporation by 10.8% in the first quarter. Great West Life Assurance Co. Can now owns 39,892 shares of the financial services provider’s stock valued at $1,959,000 after buying an additional 3,900 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in Western Alliance Bancorporation by 31.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 186,834 shares of the financial services provider’s stock valued at $9,172,000 after buying an additional 44,620 shares during the period. Investment Counselors of Maryland LLC acquired a new position in Western Alliance Bancorporation during the first quarter valued at approximately $186,000. Finally, IFP Advisors Inc increased its position in Western Alliance Bancorporation by 2.4% in the first quarter. IFP Advisors Inc now owns 21,639 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 504 shares during the period. 84.45% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation (WAL) opened at 47.90 on Friday. The stock has a 50 day moving average of $49.55 and a 200 day moving average of $49.03. The company has a market cap of $4.99 billion, a PE ratio of 17.30 and a beta of 1.73. Western Alliance Bancorporation has a one year low of $34.78 and a one year high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. The business had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same quarter last year, the firm posted $0.62 earnings per share. On average, analysts anticipate that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

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Several research analysts have commented on the stock. Jefferies Group LLC reissued a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, July 25th. Barclays PLC reissued an “overweight” rating and set a $59.00 price target (up from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. BidaskClub raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods set a $58.00 target price on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, June 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Western Alliance Bancorporation currently has a consensus rating of “Buy” and an average price target of $57.20.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 65,448 shares of the 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 sale, the chairman now owns 54,000 shares in the company, valued at $2,721,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.95% of the company’s stock.

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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