New York State Common Retirement Fund Has $8.09 Million Position in Western Alliance Bancorporation (NYSE:WAL)

New York State Common Retirement Fund raised its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,839 shares of the financial services provider's stock after acquiring an additional 8,201 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Western Alliance Bancorporation worth $8,090,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WAL. Creative Planning boosted its stake in Western Alliance Bancorporation by 18.9% during the 3rd quarter. Creative Planning now owns 6,843 shares of the financial services provider's stock valued at $592,000 after acquiring an additional 1,087 shares during the last quarter. Blue Trust Inc. boosted its stake in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 187 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at $249,000. Louisiana State Employees Retirement System bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at $2,612,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at $253,000. 79.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WAL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective 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. Barclays increased their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Finally, Piper Sandler increased their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and an average target price of $98.07.

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Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL traded up $0.84 during trading hours on Friday, hitting $87.00. 1,044,735 shares of the company's stock traded hands, compared to its average volume of 1,204,451. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company's fifty day simple moving average is $86.80 and its two-hundred day simple moving average is $86.13. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 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.