Western Alliance Bancorporation (NYSE:WAL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Western Alliance Bancorporation (NYSE:WALGet Rating) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,410 shares of the financial services provider’s stock after selling 10,303 shares during the quarter. California Public Employees Retirement System owned 0.21% of Western Alliance Bancorporation worth $23,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings in Western Alliance Bancorporation by 2.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 41,124 shares of the financial services provider’s stock valued at $4,427,000 after acquiring an additional 1,141 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $18,683,000. AlphaCrest Capital Management LLC lifted its stake in shares of Western Alliance Bancorporation by 85.3% during the fourth quarter. AlphaCrest Capital Management LLC now owns 11,901 shares of the financial services provider’s stock worth $1,281,000 after purchasing an additional 5,479 shares in the last quarter. UMB Bank N A MO acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $85,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Western Alliance Bancorporation by 1,208.3% during the fourth quarter. Baird Financial Group Inc. now owns 382,824 shares of the financial services provider’s stock worth $41,211,000 after purchasing an additional 353,563 shares in the last quarter. Hedge funds and other institutional investors own 87.16% of the company’s stock.

A number of brokerages have commented on WAL. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 2nd. StockNews.com began coverage on Western Alliance Bancorporation in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Truist Financial reduced their price objective on Western Alliance Bancorporation from $140.00 to $110.00 in a research note on Tuesday, April 26th. Finally, Wedbush boosted their price objective on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $128.25.

Shares of Western Alliance Bancorporation stock opened at $76.07 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.24 billion, a P/E ratio of 8.46, a P/E/G ratio of 0.77 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $71.68 and a fifty-two week high of $124.93. The business has a 50-day moving average price of $80.26 and a 200 day moving average price of $98.19.

Western Alliance Bancorporation (NYSE:WALGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.16. The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $540.09 million. Western Alliance Bancorporation had a return on equity of 21.77% and a net margin of 41.03%. Western Alliance Bancorporation’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 earnings per share. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, May 12th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 15.57%.

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The stock was acquired at an average cost of $78.67 per share, with a total value of $236,010.00. Following the acquisition, the chief accounting officer now directly owns 6,090 shares of the company’s stock, valued at approximately $479,100.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Randall S. Theisen sold 6,574 shares of the company’s stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $90.00, for a total value of $591,660.00. The disclosure for this sale can be found here. 2.81% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Profile (Get Rating)

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 in Commercial, Consumer Related, and Corporate & Other 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; and treasury management and residential mortgage products and services.

See Also

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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