California State Teachers Retirement System Sells 5,299 Shares of Western Alliance Bancorporation (NYSE:WAL)

California State Teachers Retirement System lowered its position in shares of Western Alliance Bancorporation (NYSE:WALFree Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,757 shares of the financial services provider’s stock after selling 5,299 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Western Alliance Bancorporation worth $7,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WAL. Principal Financial Group Inc. increased its position in shares of Western Alliance Bancorporation by 5.5% during the third quarter. Principal Financial Group Inc. now owns 8,492 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 443 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Western Alliance Bancorporation by 13.2% in the third quarter. Victory Capital Management Inc. now owns 12,686 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 1,478 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Western Alliance Bancorporation by 0.4% in the third quarter. New York State Common Retirement Fund now owns 108,840 shares of the financial services provider’s stock worth $5,003,000 after purchasing an additional 471 shares during the last quarter. Amalgamated Bank boosted its holdings in Western Alliance Bancorporation by 41.7% in the third quarter. Amalgamated Bank now owns 23,009 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 6,766 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Western Alliance Bancorporation by 0.9% in the third quarter. Swiss National Bank now owns 228,700 shares of the financial services provider’s stock worth $10,513,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 0.3 %

WAL opened at $58.77 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. Western Alliance Bancorporation has a fifty-two week low of $34.45 and a fifty-two week high of $70.23. The firm’s fifty day moving average is $60.68 and its 200 day moving average is $60.68. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. During the same quarter in the previous year, the company earned $2.30 EPS. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 7.44 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were issued a $0.37 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.52%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Wall Street Analysts Forecast Growth

WAL has been the topic of several research reports. Royal Bank of Canada dropped their target price on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a report on Monday, April 22nd. They issued an “outperform” rating and a $75.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Wedbush reiterated an “outperform” rating and set a $70.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $72.47.

Get Our Latest Analysis on WAL

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of Western Alliance Bancorporation stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total value of $64,200.00. Following the sale, the chief accounting officer now directly owns 5,636 shares in the company, valued at approximately $361,831.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.75% of the stock is currently owned by insiders.

Western Alliance Bancorporation Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.