Louisiana State Employees Retirement System Invests $2.61 Million in Western Alliance Bancorporation (NYSE:WAL)

Louisiana State Employees Retirement System purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,200 shares of the financial services provider's stock, valued at approximately $2,612,000.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Western Alliance Bancorporation in the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $33,000. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation during the first quarter valued at approximately $27,000. UMB Bank n.a. grew its position in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock worth $37,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $44,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert P. Latta sold 2,996 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company's stock, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares of the company's stock, valued at approximately $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,149 shares of company stock valued at $1,539,681 over the last ninety days. Corporate insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Stock Down 0.9 %

Shares of WAL traded down $0.77 during midday trading on Tuesday, reaching $83.99. 791,649 shares of the stock were exchanged, compared to its average volume of 1,318,964. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.29 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 12-month low of $39.03 and a 12-month high of $94.28. The firm has a 50 day simple moving average of $83.36 and a 200-day simple moving average of $71.63.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 22.84%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an "outperform" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. StockNews.com downgraded shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and upped their price target for the company from $83.00 to $101.00 in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.60.

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.