California Public Employees Retirement System Reduces Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

California Public Employees Retirement System lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,169 shares of the financial services provider’s stock after selling 10,765 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Western Alliance Bancorporation worth $15,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares in the last quarter. Allworth Financial LP lifted its holdings in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 215 shares during the period. Finally, Atala Financial Inc purchased a new stake in Western Alliance Bancorporation in the 4th quarter worth approximately $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WAL shares. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased 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 report on Monday, January 6th. DA Davidson dropped their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Trading Down 5.1 %

Shares of WAL opened at $61.95 on Friday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The stock has a market cap of $6.84 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The firm’s fifty day moving average is $82.44 and its two-hundred day moving average is $85.62. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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

About Western Alliance Bancorporation

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.