Public Employees Retirement System of Ohio Has $5.36 Million Position in Western Alliance Bancorporation (NYSE:WAL)

Public Employees Retirement System of Ohio lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,914 shares of the financial services provider's stock after selling 7,382 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Western Alliance Bancorporation worth $5,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WAL. V Square Quantitative Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $31,000. ORG Wealth Partners LLC bought a new stake in Western Alliance Bancorporation during the third quarter valued at about $33,000. ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the second quarter valued at about $36,000. UMB Bank n.a. grew its position in shares of 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 valued at $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 187 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Down 0.8 %

NYSE WAL traded down $0.70 during trading hours on Friday, hitting $89.70. The company's stock had a trading volume of 699,932 shares, compared to its average volume of 654,072. The stock has a fifty day moving average of $89.09 and a 200 day moving average of $78.74. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The firm has a market capitalization of $9.87 billion, a P/E ratio of 13.84, a PEG ratio of 1.41 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Equities research analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.38 per share. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.69%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 23.46%.

Analyst Ratings Changes

Several analysts recently weighed in on WAL shares. Wedbush increased their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an "outperform" rating in a report on Friday, October 18th. Finally, Stephens reissued an "overweight" rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus target price of $93.40.

About Western Alliance Bancorporation

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.