Sippican Capital Advisors Lowers stake in Western Alliance Bancorporation (WAL)

Western Alliance Bancorporation (WAL) : Sippican Capital Advisors reduced its stake in Western Alliance Bancorporation by 15.15% during the most recent quarter end. The investment management company now holds a total of 63,030 shares of Western Alliance Bancorporation which is valued at $2,177,687 after selling 11,250 shares in Western Alliance Bancorporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Western Alliance Bancorporation makes up approximately 2.48% of Sippican Capital Advisors’s portfolio.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in WAL during the most recent quarter. The investment firm sold 21,800 shares of WAL which is valued $753,190.Msi Financial Services Inc reduced its stake in WAL by selling 200 shares or 9.84% in the most recent quarter. The Hedge Fund company now holds 1,833 shares of WAL which is valued at $63,330.Huntington National Bank reduced its stake in WAL by selling 183 shares or 23.83% in the most recent quarter. The Hedge Fund company now holds 585 shares of WAL which is valued at $20,212.Fox Run Management L.l.c. boosted its stake in WAL in the latest quarter, The investment management firm added 8,000 additional shares and now holds a total of 20,100 shares of Western Alliance Bancorporation which is valued at $694,053. Western Alliance Bancorporation makes up approx 0.32% of Fox Run Management L.l.c.’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in WAL in the latest quarter, The investment management firm added 9,205 additional shares and now holds a total of 9,269 shares of Western Alliance Bancorporation which is valued at $300,779.

Western Alliance Bancorporation closed down -0.65 points or -1.87% at $34.03 with 5,33,451 shares getting traded on Friday. Post opening the session at $34.47, the shares hit an intraday low of $34.03 and an intraday high of $34.61 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Western Alliance Bancorporation reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.56. The company had revenue of $157.80 million for the quarter, compared to analysts expectations of $159.04 million. The company’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Western Alliance Bancorporation (WAL) 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. Its Arizona Nevada and California segments provide full-service banking and related services to their respective markets. It provides a range of financial services to customers including commercial real estate (CRE) loans construction and land development loans commercial loans and consumer loans through the Bank and its banking divisions and operating subsidiaries. It offers a range of deposit products including checking accounts money market accounts and other types of deposit accounts such as fixed-rate and fixed maturity retail certificates of deposit.

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