Renaissance Technologies LLC increased its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 101.6% during the first quarter, according to its most recent disclosure with the SEC. 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 owned approximately 0.06% of Western Alliance Bancorporation worth $3,098,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Guggenheim Capital LLC boosted its stake in shares of Western Alliance Bancorporation by 52.8% in the fourth quarter. Guggenheim Capital LLC now owns 20,666 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 7,141 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of Western Alliance Bancorporation during the first quarter valued at $200,000. Mountain Pacific Investment Advisers Inc. ID boosted its stake in shares of Western Alliance Bancorporation by 3.8% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 240,054 shares of the financial services provider’s stock valued at $11,784,000 after buying an additional 8,754 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its stake in shares of Western Alliance Bancorporation by 17.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 16,611 shares of the financial services provider’s stock valued at $815,000 after buying an additional 2,478 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 8.4% in the first quarter. ProShare Advisors LLC now owns 16,468 shares of the financial services provider’s stock valued at $808,000 after buying an additional 1,276 shares during the last quarter. 84.45% of the stock is owned by institutional investors.

Shares of Western Alliance Bancorporation (WAL) traded down 0.65% on Friday, reaching $47.59. The company’s stock had a trading volume of 596,885 shares. 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 cap of $4.96 billion, a P/E ratio of 17.19 and a beta of 1.73.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 company had revenue of $203.19 million for the quarter, compared to the consensus estimate of $203.71 million. During the same quarter in the previous year, the business earned $0.62 EPS. Analysts forecast that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on WAL shares. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $58.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, May 5th. Keefe, Bruyette & Woods set a $58.00 target price on Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Monday, June 26th. BidaskClub cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $59.00 target price (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Western Alliance Bancorporation presently has an average 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 company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 54,000 shares in the company, valued at approximately $2,721,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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