Stratos Wealth Partners LTD. bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,204 shares of the financial services provider’s stock, valued at approximately $207,000.

Other hedge funds also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake 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. Monarch Partners Asset Management LLC bought a new stake in Western Alliance Bancorporation during the first quarter valued at about $6,406,000. Emerald Mutual Fund Advisers Trust raised its stake 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 bought a new stake in Western Alliance Bancorporation during the first quarter valued at about $186,000. Finally, IFP Advisors Inc raised its stake 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 institutional investors.

Shares of Western Alliance Bancorporation (NYSE:WAL) opened at 47.59 on Friday. Western Alliance Bancorporation has a 12 month low of $35.25 and a 12 month high of $53.84. The company’s 50 day moving average price is $49.54 and its 200 day moving average price is $49.03. The company has a market capitalization of $4.96 billion, a P/E ratio of 17.19 and a beta of 1.73.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $203.71 million. During the same period in the previous year, the business earned $0.62 earnings per share. Analysts expect that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.

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

In related news, Chairman Robert Gary Sarver sold 65,448 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the completion of the transaction, the chairman now directly owns 54,000 shares in the company, valued at $2,721,060. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.95% of the stock is owned by insiders.

About Western Alliance Bancorporation

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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