Strs Ohio Has $5.70 Million Position in Western Alliance Bancorporation (NYSE:WAL)

Strs Ohio increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 35.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,600 shares of the financial services provider's stock after acquiring an additional 22,600 shares during the period. Strs Ohio owned about 0.08% of Western Alliance Bancorporation worth $5,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in shares of Western Alliance Bancorporation by 3.2% in the first quarter. Guggenheim Capital LLC now owns 4,831 shares of the financial services provider's stock valued at $400,000 after buying an additional 151 shares in the last quarter. Utah Retirement Systems increased its position in Western Alliance Bancorporation by 1.1% in the 1st quarter. Utah Retirement Systems now owns 18,511 shares of the financial services provider's stock valued at $1,534,000 after acquiring an additional 200 shares in the last quarter. Riverwater Partners LLC raised its stake in shares of Western Alliance Bancorporation by 0.7% in the fourth quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider's stock worth $1,920,000 after acquiring an additional 211 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Western Alliance Bancorporation by 33.8% during the second quarter. Harbour Investments Inc. now owns 931 shares of the financial services provider's stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Western Alliance Bancorporation by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider's stock valued at $2,182,000 after purchasing an additional 240 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAL has been the subject of several research analyst reports. Barclays initiated coverage on shares of Western Alliance Bancorporation in a research report on Friday, March 8th. They issued an "overweight" rating and a $91.00 price objective for the company. Citigroup raised their price target on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a "buy" rating in a report on Monday, January 29th. Wedbush dropped their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an "outperform" rating for the company in a report on Friday. Truist Financial restated a "buy" rating and set a $80.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $78.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $68.73.

Western Alliance Bancorporation Trading Up 3.0 %

WAL stock traded up $1.68 during midday trading on Friday, hitting $57.42. 4,028,216 shares of the company's stock were exchanged, compared to its average volume of 1,473,813. Western Alliance Bancorporation has a one year low of $11.35 and a one year high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market cap of $6.33 billion, a PE ratio of 8.78 and a beta of 1.47. The stock's fifty day moving average price is $59.58 and its 200-day moving average price is $56.32.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $711.34 million. During the same quarter in the previous year, the business posted $2.30 EPS. Research analysts predict that Western Alliance Bancorporation will post 7.88 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation's dividend payout ratio is 22.63%.

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.