California Public Employees Retirement System Has $23.51 Million Position in Western Alliance Bancorporation (NYSE:WAL)

California Public Employees Retirement System reduced its position in shares of Western Alliance Bancorporation (NYSE:WALGet Rating) by 4.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 218,410 shares of the financial services provider’s stock after selling 10,303 shares during the period. California Public Employees Retirement System’s holdings in Western Alliance Bancorporation were worth $23,512,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. River Oaks Capital LLC acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter worth $7,202,000. Wellington Management Group LLP increased its stake in shares of Western Alliance Bancorporation by 16.2% in the third quarter. Wellington Management Group LLP now owns 4,124,834 shares of the financial services provider’s stock worth $448,864,000 after acquiring an additional 574,248 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Western Alliance Bancorporation by 1.2% in the third quarter. Macquarie Group Ltd. now owns 2,510,503 shares of the financial services provider’s stock worth $273,194,000 after acquiring an additional 29,655 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Western Alliance Bancorporation by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,285,746 shares of the financial services provider’s stock worth $140,019,000 after acquiring an additional 9,402 shares during the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Western Alliance Bancorporation by 9.5% in the third quarter. Hood River Capital Management LLC now owns 983,111 shares of the financial services provider’s stock worth $106,982,000 after acquiring an additional 85,048 shares during the last quarter. 87.16% of the stock is currently owned by institutional investors.

WAL stock opened at $76.07 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.83. Western Alliance Bancorporation has a 52-week low of $71.68 and a 52-week high of $124.93. The company has a 50-day moving average of $80.26 and a two-hundred day moving average of $98.19. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WALGet Rating) last released its quarterly earnings results on Thursday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.16. Western Alliance Bancorporation had a net margin of 41.03% and a return on equity of 21.77%. The company had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $540.09 million. During the same period in the prior year, the company earned $1.90 earnings per share. The business’s quarterly revenue was up 64.9% compared to the same quarter last year. Equities analysts expect that Western Alliance Bancorporation will post 9.79 EPS for the current fiscal year.

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

In related news, General Counsel Randall S. Theisen sold 6,574 shares of the stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $90.00, for a total value of $591,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO J. Kelly Jr. Ardrey bought 3,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, April 28th. The stock was bought at an average price of $78.67 per share, with a total value of $236,010.00. Following the purchase, the chief accounting officer now owns 6,090 shares of the company’s stock, valued at approximately $479,100.30. The disclosure for this purchase can be found here. 2.81% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Western Alliance Bancorporation from $140.00 to $110.00 in a research note on Tuesday, April 26th. StockNews.com began coverage on shares of Western Alliance Bancorporation in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 2nd. Finally, Wedbush increased their target price on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report 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 company presently has a consensus rating of “Buy” and a consensus price target of $128.25.

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.

Further Reading

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

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