Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Strs Ohio

Strs Ohio boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 35.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,600 shares of the financial services provider’s stock after buying an additional 22,600 shares during the quarter. Strs Ohio owned approximately 0.08% of Western Alliance Bancorporation worth $5,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in Western Alliance Bancorporation by 400.7% during the first quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 557 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Western Alliance Bancorporation during the second quarter valued at $28,000. State of Wyoming lifted its holdings in Western Alliance Bancorporation by 54.7% during the second quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Western Alliance Bancorporation by 118.2% during the first quarter. Advisory Services Network LLC now owns 993 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 538 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Western Alliance Bancorporation by 422.2% during the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WAL. Citigroup increased their price objective on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a report on Monday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Jefferies Financial Group decreased their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Truist Financial reissued a “buy” rating and issued a $80.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. Finally, Barclays started coverage on shares of Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an “overweight” rating and a $91.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.60.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $55.78 on Friday. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. The stock has a market cap of $6.15 billion, a PE ratio of 8.53 and a beta of 1.47. The firm has a 50-day simple moving average of $59.58 and a two-hundred day simple moving average of $56.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $705.97 million. During the same quarter in the prior year, the business earned $2.67 earnings per share. As a group, analysts forecast that Western Alliance Bancorporation will post 7.88 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 22.63%.

Western Alliance Bancorporation 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.