South Dakota Investment Council Has $7.01 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

South Dakota Investment Council grew its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,864 shares of the financial services provider's stock after purchasing an additional 8,000 shares during the quarter. South Dakota Investment Council owned about 0.08% of Western Alliance Bancorporation worth $7,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the last quarter. Allworth Financial LP grew its position in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 215 shares during the period. Blue Trust Inc. increased its stake in shares of Western Alliance Bancorporation by 58.4% during the 3rd 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 last quarter. Covestor Ltd raised its holdings in shares of Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 397 shares during the period. Finally, Principal Securities Inc. lifted its stake in Western Alliance Bancorporation by 338.1% in the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have weighed in on WAL. Stephens reissued an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on 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. UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.07.

Western Alliance Bancorporation Price Performance

NYSE WAL traded up $0.70 during midday trading on Wednesday, hitting $86.08. The company had a trading volume of 1,124,090 shares, compared to its average volume of 1,213,989. The firm has a 50-day moving average price of $86.64 and a 200-day moving average price of $86.03. The company has a market capitalization of $9.47 billion, a PE ratio of 12.12, a P/E/G ratio of 0.63 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 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.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. As a group, analysts anticipate 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 will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

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.