Teachers Retirement System of The State of Kentucky Has $3.51 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Teachers Retirement System of The State of Kentucky boosted its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 42.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,561 shares of the financial services provider's stock after purchasing an additional 11,991 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Western Alliance Bancorporation were worth $3,508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 in the last quarter. UMB Bank n.a. lifted its stake in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after buying an additional 249 shares in the last quarter. Signaturefd LLC increased its position in Western Alliance Bancorporation by 18.7% during the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider's stock worth $138,000 after buying an additional 252 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Western Alliance Bancorporation by 5.7% in the third quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider's stock worth $429,000 after acquiring an additional 276 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Western Alliance Bancorporation by 6.1% during the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider's stock worth $362,000 after purchasing an additional 330 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 0.8 %

Western Alliance Bancorporation stock traded down $0.70 during midday trading on Friday, hitting $89.70. 699,932 shares of the stock were exchanged, compared to its average volume of 654,072. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market cap of $9.87 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.41 and a beta of 1.45. The company has a 50 day moving average price of $89.09 and a two-hundred day moving average price of $78.62.

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

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, November 15th. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's payout ratio is 23.46%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Stephens reissued an "overweight" rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. JPMorgan Chase & Co. cut their price objective 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. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an "outperform" rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. Finally, Wedbush upped their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.40.

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.