South Dakota Investment Council Has $7.78 Million Position in Western Alliance Bancorporation (NYSE:WAL)

South Dakota Investment Council boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,316 shares of the financial services provider's stock after acquiring an additional 17,452 shares during the quarter. South Dakota Investment Council owned 0.09% of Western Alliance Bancorporation worth $7,784,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Point72 Europe London LLP lifted its position in shares of Western Alliance Bancorporation by 6.6% in the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after purchasing an additional 5,643 shares during the period. Nicholas Investment Partners LP boosted its holdings in shares of Western Alliance Bancorporation by 12.7% in the 4th quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider's stock worth $14,585,000 after buying an additional 19,639 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Western Alliance Bancorporation by 53.3% during the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock valued at $168,000 after purchasing an additional 758 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Western Alliance Bancorporation by 24.9% in the first quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider's stock worth $1,950,000 after buying an additional 5,056 shares in the last quarter. Finally, Focus Partners Wealth grew its position in Western Alliance Bancorporation by 5.2% during the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after acquiring an additional 4,909 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WAL has been the subject of several recent research reports. Piper Sandler raised their price objective on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday. Royal Bank Of Canada cut their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. DA Davidson boosted their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a research note on Monday. Finally, Truist Financial cut their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Stock Up 1.2%

NYSE WAL traded up $1.00 during trading hours on Wednesday, hitting $83.05. The company had a trading volume of 352,156 shares, compared to its average volume of 1,200,654. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.54 and a beta of 1.29. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The firm's 50 day moving average is $77.09 and its 200 day moving average is $78.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.81.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping 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 net margin of 16.39% and a return on equity of 12.62%. During the same quarter in the previous year, the business posted $1.75 earnings per share. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.83%. Western Alliance Bancorporation's payout ratio is currently 19.97%.

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.