Teacher Retirement System of Texas Acquires 9,200 Shares of Western Alliance Bancorporation (NYSE:WAL)

Teacher Retirement System of Texas increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 60.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,448 shares of the financial services provider's stock after buying an additional 9,200 shares during the quarter. Teacher Retirement System of Texas' holdings in Western Alliance Bancorporation were worth $1,878,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WAL. Norges Bank acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth $109,298,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after buying an additional 648,983 shares during the period. Janus Henderson Group PLC raised its stake in Western Alliance Bancorporation by 23.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after buying an additional 445,176 shares during the period. Bank of Montreal Can raised its stake in Western Alliance Bancorporation by 973.1% during the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after buying an additional 382,513 shares during the period. Finally, Global Frontier Investments LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth $23,809,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 0.9%

Shares of NYSE:WAL traded down $0.73 during midday trading on Friday, reaching $84.38. The company had a trading volume of 611,506 shares, compared to its average volume of 1,216,996. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. The business's 50 day moving average price is $76.08 and its 200 day moving average price is $78.27. The stock has a market cap of $9.32 billion, a PE ratio of 11.57, a P/E/G ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same quarter in the previous year, the business earned $1.72 earnings per share. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Analyst Ratings Changes

Several brokerages recently commented on WAL. Stephens reaffirmed an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Royal Bank Of Canada dropped their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial lifted their price target on Western Alliance Bancorporation from $92.00 to $96.00 and gave the company a "buy" rating in a research note on Friday. Jefferies Financial Group started coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price target on the stock. Finally, Barclays lifted their price target on Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.50.

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.