Renaissance Technologies LLC boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 101.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,104 shares of the financial services provider’s stock after buying an additional 31,800 shares during the period. Renaissance Technologies LLC’s holdings in Western Alliance Bancorporation were worth $3,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WAL. Vanguard Group Inc. increased its stake in Western Alliance Bancorporation by 4.4% in the first quarter. Vanguard Group Inc. now owns 7,250,046 shares of the financial services provider’s stock valued at $355,905,000 after buying an additional 303,860 shares during the last quarter. Wellington Management Group LLP increased its stake in Western Alliance Bancorporation by 9.8% in the first quarter. Wellington Management Group LLP now owns 4,813,169 shares of the financial services provider’s stock valued at $236,279,000 after buying an additional 429,488 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Western Alliance Bancorporation by 18.3% in the first quarter. JPMorgan Chase & Co. now owns 2,104,213 shares of the financial services provider’s stock valued at $103,296,000 after buying an additional 325,128 shares during the last quarter. Schroder Investment Management Group increased its stake in Western Alliance Bancorporation by 9.8% in the first quarter. Schroder Investment Management Group now owns 1,974,392 shares of the financial services provider’s stock valued at $98,581,000 after buying an additional 175,601 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Western Alliance Bancorporation by 6.2% in the first quarter. OppenheimerFunds Inc. now owns 1,198,831 shares of the financial services provider’s stock valued at $58,851,000 after buying an additional 70,510 shares during the last quarter. Hedge funds and other institutional investors own 84.45% of the company’s stock.

Western Alliance Bancorporation (NYSE:WAL) traded down 0.65% during mid-day trading on Friday, hitting $47.59. The company had a trading volume of 596,885 shares. Western Alliance Bancorporation has a 1-year low of $35.25 and a 1-year high of $53.84. The company has a 50 day moving average of $49.54 and a 200 day moving average of $49.03. The firm has a market capitalization of $4.96 billion, a PE ratio of 17.19 and a beta of 1.73.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data 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 analyst estimates of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same period last year, the company posted $0.62 earnings per share. Analysts predict that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

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Several analysts recently weighed in on WAL shares. Zacks Investment Research downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, June 26th. BidaskClub upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Barclays PLC restated an “overweight” rating and issued a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $57.20.

In related news, Chairman Robert Gary Sarver sold 65,448 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at $2,721,060. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.95% of the company’s stock.

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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