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NEW YORK ( TheStreet) -- Western Alliance (NYSE: WAL) hit a new 52-week high Friday as it is currently trading at $8.50, above its previous 52-week high of $8.45 with 55,154 shares traded as of 10:05 a.m. ET. Average volume has been 413,000 shares over the past 30 days. Western Alliance has a market cap of $665.3 million and is part of the financial sector and banking industry. Shares are up 31.6% year to date as of the close of trading on Thursday. Western Alliance Bancorporation, a multi-bank holding company, provides various banking and related services to businesses, professional firms, real estate developers and investors, non-profit organizations, high net worth individuals, and other consumers in Nevada, Arizona, and California. The company has a P/E ratio of 38.8, below the average banking industry P/E ratio of 42.5 and above the S&P 500 P/E ratio of 17.7.