California Public Employees Retirement System Lowers Position in Western Alliance Bancorporation (NYSE:WAL)

California Public Employees Retirement System reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 5.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 183,169 shares of the financial services provider’s stock after selling 10,765 shares during the period. California Public Employees Retirement System’s holdings in Western Alliance Bancorporation were worth $15,302,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WAL. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the period. Allworth Financial LP lifted its stake in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $44,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 5.1 %

Shares of Western Alliance Bancorporation stock opened at $61.95 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $82.44 and a 200-day simple moving average of $85.62. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

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, beating 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%. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.45%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WAL. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company lowered 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 note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.