Congress Asset Management Co. Buys 121,548 Shares of Western Alliance Bancorporation (NYSE:WAL)

Congress Asset Management Co. raised its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 59.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 327,183 shares of the financial services provider's stock after buying an additional 121,548 shares during the quarter. Congress Asset Management Co. owned 0.30% of Western Alliance Bancorporation worth $28,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider's stock valued at $670,170,000 after buying an additional 395,101 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Western Alliance Bancorporation by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider's stock valued at $328,165,000 after acquiring an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock worth $233,832,000 after purchasing an additional 636,577 shares in the last quarter. William Blair Investment Management LLC grew its position in Western Alliance Bancorporation by 0.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider's stock valued at $176,764,000 after purchasing an additional 20,876 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in Western Alliance Bancorporation by 5.9% during the first quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider's stock worth $105,378,000 after buying an additional 91,535 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert P. Latta sold 2,996 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is owned by company insiders.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock traded up $0.10 on Friday, reaching $83.31. 805,368 shares of the company traded hands, compared to its average volume of 1,312,524. The company has a 50 day moving average of $83.74 and a 200 day moving average of $71.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. Western Alliance Bancorporation has a 52 week low of $43.20 and a 52 week high of $94.28. The firm has a market capitalization of $9.17 billion, a PE ratio of 12.84, a PEG ratio of 1.32 and a beta of 1.44.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WAL. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Wedbush lifted their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. StockNews.com downgraded Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a report on Tuesday, October 1st. Finally, Barclays decreased their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.60.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.