Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in Western Alliance Bancorporation (NYSE:WAL) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,839 shares of the financial services provider’s stock after buying an additional 8,201 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Western Alliance Bancorporation worth $8,090,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WAL. Fifth Third Bancorp grew its stake in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP grew its position in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares in the last quarter. Covestor Ltd raised its position in shares of Western Alliance Bancorporation by 167.5% during the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 397 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in Western Alliance Bancorporation by 338.1% in the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock valued at $57,000 after buying an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 0.8 %

Shares of NYSE:WAL opened at $85.35 on Wednesday. The stock has a 50-day simple moving average of $86.64 and a 200-day simple moving average of $86.03. The stock has a market capitalization of $9.39 billion, a P/E ratio of 12.02, a PEG ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (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 analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Analysts Set New Price Targets

WAL has been the subject of several recent research reports. Piper Sandler raised their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays upped their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.