Shares of Western Alliance halted -- company says it is not up for sale

Western Alliance Bancorp is the latest on the regional bank hit list. Shares fell as low as $11.46 but rebounded to $18.05 before the halt. They closed just shy of $30 yesterday and $75 before the regional banking turmoil.

The company was cited as saying reports that it was pursuing a sale as "absolutely false" and I suspect the press release will underscore that, but you never know.

Update, here's WAL's statement sent to CNBC:

"The Financial Times report that Western Alliance is considering as sale is categorically false in all respects. There is not a single element of the article is true. Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic options. It's shameful and irresponsible that the Financial Times has allowed itself to be used as an instrument of short sellers and as a conduit for spreading false narratives about a financially sound and profitable bank. We are considering all of our legal options in response to today's article"

The KRE regional bank index is down nearly 7%.

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