State of Alaska Department of Revenue Has $1.04 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

State of Alaska Department of Revenue trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,440 shares of the financial services provider’s stock after selling 235 shares during the period. State of Alaska Department of Revenue’s holdings in Western Alliance Bancorporation were worth $1,039,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Meritage Portfolio Management boosted its stake in shares of Western Alliance Bancorporation by 12.2% during the 4th quarter. Meritage Portfolio Management now owns 8,645 shares of the financial services provider’s stock worth $722,000 after buying an additional 943 shares during the last quarter. Choreo LLC raised its holdings in shares of Western Alliance Bancorporation by 32.1% in the 4th quarter. Choreo LLC now owns 13,426 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 3,265 shares during the period. Alliance Wealth Advisors LLC UT bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $659,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $2,836,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock valued at $1,359,000 after purchasing an additional 163 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WAL shares. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Stock Up 1.4 %

Shares of WAL opened at $87.21 on Friday. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The firm’s 50 day moving average is $87.05 and its 200-day moving average is $85.15. The stock has a market capitalization of $9.60 billion, a PE ratio of 12.28, a P/E/G ratio of 0.64 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities research analysts forecast that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

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.