Western Alliance Bancorp (NYSE:WAL) gapped up prior to trading on Wednesday . The stock had previously closed at $36.60, but opened at $36.76. Western Alliance Bancorp shares last traded at $37.26, with a volume of 371,852 shares traded.

Several equities research analysts recently commented on the company. Zacks Investment Research downgraded Western Alliance Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 25th. Wells Fargo & Co. assumed coverage on Western Alliance Bancorp in a report on Thursday, September 1st. They issued a “market perform” rating for the company. Finally, Jefferies Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Western Alliance Bancorp in a report on Tuesday, September 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.70.

The stock’s 50-day moving average price is $36.41 and its 200 day moving average price is $34.76. The company has a market capitalization of $3.81 billion, a P/E ratio of 16.09 and a beta of 1.61.

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Western Alliance Bancorp (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Western Alliance Bancorp had a return on equity of 14.48% and a net margin of 35.86%. Analysts predict that Western Alliance Bancorp will post $2.54 earnings per share for the current year.

In other Western Alliance Bancorp news, EVP Robert Reoch Mcauslan sold 2,000 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $36.50, for a total value of $73,000.00. Following the completion of the sale, the executive vice president now directly owns 41,323 shares in the company, valued at $1,508,289.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Donald D. Snyder sold 30,000 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $35.78, for a total value of $1,073,400.00. Following the completion of the sale, the director now owns 117,579 shares of the company’s stock, valued at $4,206,976.62. The disclosure for this sale can be found here. Corporate insiders own 10.27% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in WAL. Wellington Management Group LLP boosted its stake in Western Alliance Bancorp by 283.0% in the first quarter. Wellington Management Group LLP now owns 3,038,715 shares of the financial services provider’s stock worth $101,432,000 after buying an additional 2,245,217 shares during the period. Westwood Holdings Group Inc. boosted its stake in Western Alliance Bancorp by 6,265.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,955,702 shares of the financial services provider’s stock worth $63,854,000 after buying an additional 1,924,980 shares during the period. Lord Abbett & CO. LLC boosted its stake in Western Alliance Bancorp by 39.8% in the second quarter. Lord Abbett & CO. LLC now owns 3,027,841 shares of the financial services provider’s stock worth $98,859,000 after buying an additional 861,446 shares during the period. Goldman Sachs Group Inc. boosted its stake in Western Alliance Bancorp by 657.0% in the first quarter. Goldman Sachs Group Inc. now owns 978,872 shares of the financial services provider’s stock worth $32,674,000 after buying an additional 849,566 shares during the period. Finally, Mesirow Financial Investment Management Equity Management boosted its stake in Western Alliance Bancorp by 812.7% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 721,709 shares of the financial services provider’s stock worth $23,564,000 after buying an additional 642,636 shares during the period. Institutional investors own 79.12% of the company’s stock.

About Western Alliance Bancorp

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

5 Day Chart for NYSE:WAL

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