Brinker Capital Inc. Raises Position in Western Alliance Bancorporation (NYSE:WAL)

Brinker Capital Inc. increased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 30.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,101 shares of the financial services provider’s stock after purchasing an additional 13,444 shares during the quarter. Brinker Capital Inc. owned 0.06% of Western Alliance Bancorporation worth $2,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of WAL. Macquarie Group Ltd. grew its holdings in Western Alliance Bancorporation by 686.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,815,851 shares of the financial services provider’s stock worth $81,205,000 after acquiring an additional 1,585,020 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Western Alliance Bancorporation by 123.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,566,801 shares of the financial services provider’s stock worth $70,068,000 after acquiring an additional 865,456 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Western Alliance Bancorporation by 220.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 736,526 shares of the financial services provider’s stock worth $33,939,000 after acquiring an additional 506,817 shares during the last quarter. BlackRock Inc. grew its holdings in Western Alliance Bancorporation by 6.9% in the 2nd quarter. BlackRock Inc. now owns 5,209,279 shares of the financial services provider’s stock worth $232,958,000 after acquiring an additional 334,241 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Western Alliance Bancorporation by 4.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,702,713 shares of the financial services provider’s stock worth $344,465,000 after acquiring an additional 296,647 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

A number of equities research analysts have issued reports on the stock. SunTrust Banks cut their price target on shares of Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Wedbush reissued an “outperform” rating on shares of Western Alliance Bancorporation in a report on Tuesday, July 16th. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Finally, Stephens set a $55.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $53.60.

Shares of Western Alliance Bancorporation stock opened at $48.75 on Wednesday. The firm has a market cap of $4.98 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.66. Western Alliance Bancorporation has a 12-month low of $37.39 and a 12-month high of $50.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $45.56 and its two-hundred day simple moving average is $44.98.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $288.90 million for the quarter, compared to analyst estimates of $281.83 million. Western Alliance Bancorporation had a net margin of 39.08% and a return on equity of 17.97%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 4.74 earnings per share for the current fiscal year.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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