Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Holdings in Western Alliance Bancorporation $WAL

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 7.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 28,006 shares of the financial services provider’s stock after purchasing an additional 1,934 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Western Alliance Bancorporation were worth $2,184,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its stake in shares of Western Alliance Bancorporation by 5.9% in the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock worth $466,821,000 after buying an additional 339,758 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Western Alliance Bancorporation by 0.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock worth $276,954,000 after acquiring an additional 26,995 shares during the period. William Blair Investment Management LLC boosted its position in Western Alliance Bancorporation by 0.9% in the second quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after purchasing an additional 20,704 shares during the last quarter. Geode Capital Management LLC boosted its position in Western Alliance Bancorporation by 5.4% in the second quarter. Geode Capital Management LLC now owns 2,035,515 shares of the financial services provider’s stock worth $158,755,000 after purchasing an additional 104,182 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Western Alliance Bancorporation by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,971,205 shares of the financial services provider’s stock valued at $153,715,000 after purchasing an additional 62,202 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.5%

WAL opened at $75.91 on Friday. The company has a 50 day moving average of $81.34 and a 200 day moving average of $80.27. The company has a market cap of $8.35 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.52 and a beta of 1.45. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The business had revenue of $718.00 million for the quarter. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be paid a $0.42 dividend. The ex-dividend date is Thursday, November 13th. This represents a $1.68 annualized dividend and a yield of 2.2%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio is 20.77%.

Insiders Place Their Bets

In related news, CFO Dale Gibbons bought 4,000 shares of Western Alliance Bancorporation stock in a transaction on Thursday, October 30th. The stock was acquired at an average price of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer directly owned 300,358 shares of the company’s stock, valued at $23,127,566. This represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WAL. Truist Financial lifted their target price on Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings lowered shares of Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, September 24th. Barclays restated an “overweight” rating on shares of Western Alliance Bancorporation in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average price target of $100.53.

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.