California Public Employees Retirement System Reduces Stake in Western Alliance Bancorporation (NYSE:WAL)

California Public Employees Retirement System trimmed its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 183,169 shares of the financial services provider's stock after selling 10,765 shares during the quarter. California Public Employees Retirement System owned 0.17% of Western Alliance Bancorporation worth $15,302,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Retirement Systems of Alabama bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at about $11,461,000. Franklin Resources Inc. increased its holdings in Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock worth $27,970,000 after acquiring an additional 45,764 shares during the period. New York State Common Retirement Fund lifted its stake in Western Alliance Bancorporation by 9.3% in the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock worth $8,090,000 after purchasing an additional 8,201 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Western Alliance Bancorporation by 1,091.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider's stock valued at $2,947,000 after purchasing an additional 31,214 shares during the period. Finally, Norden Group LLC bought a new position in Western Alliance Bancorporation in the 4th quarter valued at $727,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WAL shares. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. DA Davidson dropped their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Stephens reissued an "overweight" rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Trading Down 0.3 %

WAL stock traded down $0.16 during trading on Monday, hitting $61.94. 2,675,751 shares of the company traded hands, compared to its average volume of 1,198,111. The company has a 50-day moving average of $82.44 and a 200-day moving average of $85.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The firm has a market capitalization of $6.84 billion, a PE ratio of 8.72, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

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.