Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 20.8% during the 1st quarter, according to its most recent 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 about 0.09% of Western Alliance Bancorporation worth $7,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WAL. Point72 Europe London LLP increased its stake in Western Alliance Bancorporation by 6.6% during the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after buying an additional 5,643 shares during the period. Nicholas Investment Partners LP increased its stake in Western Alliance Bancorporation by 12.7% during 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 period. GAMMA Investing LLC increased its stake in Western Alliance Bancorporation by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock worth $168,000 after buying an additional 758 shares during the period. New York State Teachers Retirement System increased its stake in Western Alliance Bancorporation by 24.9% during the 1st 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 during the period. Finally, Focus Partners Wealth increased its stake in Western Alliance Bancorporation by 5.2% during the 4th quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock worth $8,277,000 after buying an additional 4,909 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $81.53 on Friday. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The firm has a market cap of $9.00 billion, a P/E ratio of 10.71, a PEG ratio of 0.58 and a beta of 1.29. The stock has a fifty day moving average price of $77.09 and a two-hundred day moving average price of $78.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.83 and a current ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.88%. The company had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same period in the prior year, the company earned $1.75 EPS. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS 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 dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Truist Financial boosted their target price on shares of Western Alliance Bancorporation from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Stephens reissued an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.

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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