Strs Ohio Makes New $7.04 Million Investment in Western Alliance Bancorporation $WAL

Key Points

• Strs Ohio acquired 91,641 shares of Western Alliance Bancorporation, valued at approximately $7,041,000, representing a 0.08% stake in the company.
• Several institutional investors, including UBS AM and Great Lakes Advisors, have recently increased their stakes in Western Alliance, which now has 79.15% of its stock owned by institutional investors.
• Analyst reports generally remain positive on Western Alliance, with a consensus rating of "Moderate Buy" and a price target of $97.79.

Strs Ohio acquired a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 91,641 shares of the financial services provider's stock, valued at approximately $7,041,000. Strs Ohio owned 0.08% of Western Alliance Bancorporation at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. National Bank of Canada FI lifted its position in shares of Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after acquiring an additional 141 shares during the period. MidWestOne Financial Group Inc. increased its stake in Western Alliance Bancorporation by 0.6% in the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock valued at $2,226,000 after acquiring an additional 160 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Western Alliance Bancorporation by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock worth $258,000 after purchasing an additional 166 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Western Alliance Bancorporation by 2.9% during the first quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider's stock worth $465,000 after purchasing an additional 169 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Western Alliance Bancorporation by 3.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider's stock worth $460,000 after buying an additional 197 shares during the period. Institutional investors own 79.15% of the company's stock.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. This trade represents a 9.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.68% of the company's stock.

Western Alliance Bancorporation Stock Down 0.6%

WAL traded down $0.55 on Friday, hitting $90.94. 3,331,870 shares of the company were exchanged, compared to its average volume of 1,072,592. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. The stock's fifty day moving average is $84.47 and its 200-day moving average is $77.54. The company has a market cap of $10.04 billion, a PE ratio of 11.95, a PEG ratio of 0.63 and a beta of 1.39. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. The firm had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.During the same quarter in the prior year, the company earned $1.75 earnings per share. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.7%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 19.97%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Truist Financial cut their price objective on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Piper Sandler lifted their target price on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Industrial Alliance Securities set a $104.00 price objective on Western Alliance Bancorporation in a research note on Tuesday, August 26th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.79.

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.