State of New Jersey Common Pension Fund D Has $3.03 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

State of New Jersey Common Pension Fund D increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,258 shares of the financial services provider’s stock after acquiring an additional 327 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Western Alliance Bancorporation were worth $3,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WAL. State Street Corp increased its holdings in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. FMR LLC increased its holdings in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after purchasing an additional 1,347,921 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after purchasing an additional 506,778 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Western Alliance Bancorporation in the third quarter worth approximately $39,230,000. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $38,386,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Down 3.3 %

Shares of NYSE:WAL opened at $89.92 on Friday. The company has a market capitalization of $9.90 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business has a fifty day moving average price of $86.86 and a two-hundred day moving average price of $85.56. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WAL shares. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, UBS Group initiated coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

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.