VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.82 Million Investment in Western Alliance Bancorporation $WAL

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,285 shares of the financial services provider's stock, valued at approximately $1,816,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tsfg LLC acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Western Alliance Bancorporation in the first quarter valued at approximately $58,000. National Bank of Canada FI lifted its stake in Western Alliance Bancorporation by 22.7% during the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after purchasing an additional 141 shares in the last quarter. Signaturefd LLC boosted its position in shares of Western Alliance Bancorporation by 14.8% during the second quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider's stock worth $129,000 after buying an additional 213 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Western Alliance Bancorporation by 144.5% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock valued at $132,000 after buying an additional 1,013 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Up 3.0%

Shares of Western Alliance Bancorporation stock opened at $78.57 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The company has a market capitalization of $8.67 billion, a P/E ratio of 9.71, a P/E/G ratio of 0.55 and a beta of 1.35. The company has a 50 day moving average of $85.34 and a 200 day moving average of $78.59.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. The business had revenue of $718.00 million for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 13.20%. As a group, 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, August 29th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 14th. Western Alliance Bancorporation's payout ratio is 19.97%.

Analyst Ratings Changes

Several equities analysts recently issued reports on WAL shares. TD Cowen initiated coverage on Western Alliance Bancorporation in a research note on Thursday, September 25th. They set a "buy" rating and a $118.00 target price on the stock. Industrial Alliance Securities set a $112.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. National Bankshares set a $118.00 price objective on shares of Western Alliance Bancorporation in a report on Wednesday, September 24th. Finally, Wells Fargo & Company reiterated an "underweight" rating on shares of Western Alliance Bancorporation in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.14.

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.

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