Mountain Pacific Investment Advisers INC Increased Western Alliance Banco Com (NYSE:WAL) by $6.22 Million as Shares Declined


Mountain Pacific Investment Advisers Inc increased its stake in Western Alliance Banco Com (NYSE:WAL) by 753.6% based on its latest 2016Q2 regulatory filing with the SEC. Mountain Pacific Investment Advisers Inc bought 188,400 shares as the company’s stock declined 4.98% while stock markets rallied. The institutional investor held 213,400 shares of the major banks company at the end of 2016Q2, valued at $7.12 million, up from 25,000 at the end of the previous reported quarter. Mountain Pacific Investment Advisers Inc who had been investing in Western Alliance Banco Com for a number of months, seems to be bullish on the $3.81B market cap company. The stock is down 2.09% or $0.77 hitting $36.07, despite the positive news. About 44,636 shares traded hands. Western Alliance Bancorporation (NYSE:WAL) has risen 33.94% since February 8, 2016 and is uptrending. It has outperformed by 17.45% the S&P500.

Mountain Pacific Investment Advisers Inc is a Idaho-based institutional investor with more than $946.15 million AUM in March, 2014. Taken from Mountain Pacific Investment Advisers latest Adv, the fund reported to have 5 full and part-time employees. Among which 4 performing investment advisory and research functions. The institutional investor had more than 200 clients.

The institutional sentiment decreased to 1.2 in 2016 Q2. Its down 0.23, from 1.43 in 2016Q1. The ratio is negative, as 22 funds sold all WAL shares owned while 86 reduced positions. 47 funds bought stakes while 83 increased positions. They now own 81.37 million shares or 1.61% less from 82.70 million shares in 2016Q1.

Castine Capital Management Llc holds 1.57% of its portfolio in WAL for 100,000 shares. Mesirow Financial Investment Management owns 721,709 shares or 1.37% of their US portfolio. Moreover, Broadview Advisors Llc has 1.3% invested in the company for 266,650 shares. The New York-based Mendon Capital Advisors Corp has invested 1.18% in the stock. Nwq Investment Management Company Llc, a California-based fund reported 1.88 million shares.

Out of 6 analysts covering Western Alliance Bancorporation (NYSE:WAL), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $41 is the highest target while $37 is the lowest. The $39.20 average target is 8.68% above today’s ($36.07) stock price. Western Alliance Bancorporation has been the topic of 8 analyst reports since October 6, 2015 according to StockzIntelligence Inc. Wells Fargo initiated the stock on September 1 with “Market Perform” rating. DA Davidson upgraded the shares of WAL in a report on February 11 to “Buy” rating.

Western Alliance Bancorporation is a bank holding company. The company has a market cap of $3.81 billion. The Firm provides a range of deposits, lending, treasury management and online banking services and products through its banking subsidiary, Western Alliance Bank . It has a 15.58 P/E ratio. The Company’s divisions are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

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