Western Alliance Bancorporation (WAL) Position Reduced by Eaton Vance Management

Eaton Vance Management reduced its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 38.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,059 shares of the financial services provider’s stock after selling 112,910 shares during the quarter. Eaton Vance Management owned approximately 0.17% of Western Alliance Bancorporation worth $8,810,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA lifted its holdings in Western Alliance Bancorporation by 72.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,060 shares during the period. Winfield Associates Inc. increased its position in Western Alliance Bancorporation by 0.6% in the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after buying an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Western Alliance Bancorporation by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after buying an additional 469 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Western Alliance Bancorporation in the second quarter worth $207,000. Finally, Two Sigma Securities LLC purchased a new stake in Western Alliance Bancorporation in the first quarter worth $211,000. Institutional investors and hedge funds own 81.33% of the company’s stock.

In other news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at approximately $2,611,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.95% of the stock is owned by corporate insiders.

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A number of analysts have issued reports on the company. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday. Royal Bank Of Canada reissued a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. Jefferies Group LLC reissued a “buy” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 29th. BidaskClub downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, SunTrust Banks, Inc. assumed coverage on Western Alliance Bancorporation in a research report on Friday, August 18th. They issued a “buy” rating and a $59.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $57.00.

Shares of Western Alliance Bancorporation (NYSE:WAL) opened at 47.67 on Wednesday. Western Alliance Bancorporation has a 52-week low of $35.56 and a 52-week high of $53.84. The stock has a market capitalization of $4.97 billion, a P/E ratio of 17.22 and a beta of 1.75. The firm has a 50-day moving average price of $48.60 and a 200-day moving average price of $48.55.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The firm had revenue of $203.19 million for the quarter, compared to analysts’ expectations of $203.71 million. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. During the same period in the prior year, the firm earned $0.62 EPS. On average, analysts predict that Western Alliance Bancorporation will post $3.04 EPS for the current year.

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.

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

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