Public Employees Retirement System of Ohio Has $2.61 Million Stock Holdings in Western Alliance Bancorporation $WAL

Public Employees Retirement System of Ohio lowered its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,494 shares of the financial services provider’s stock after selling 4,109 shares during the period. Public Employees Retirement System of Ohio’s holdings in Western Alliance Bancorporation were worth $2,612,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC lifted its holdings in shares of Western Alliance Bancorporation by 1.6% in the second quarter. Oliver Luxxe Assets LLC now owns 51,923 shares of the financial services provider’s stock valued at $4,049,000 after purchasing an additional 837 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Western Alliance Bancorporation by 6.2% in the second quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 136 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Western Alliance Bancorporation during the second quarter worth about $208,000. Silver Oak Securities Incorporated lifted its stake in Western Alliance Bancorporation by 4.0% during the second quarter. Silver Oak Securities Incorporated now owns 14,180 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 546 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Western Alliance Bancorporation by 171.9% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,800 shares of the financial services provider’s stock worth $2,714,000 after purchasing an additional 22,000 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WAL shares. Piper Sandler increased their target price on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Industrial Alliance Securities set a $104.00 price target on Western Alliance Bancorporation in a research report on Tuesday, August 26th. National Bankshares set a $118.00 price target on Western Alliance Bancorporation in a research report on Wednesday, September 24th. Cowen started coverage on Western Alliance Bancorporation in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Finally, Citigroup reissued a “neutral” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.53.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the sale, the insider directly owned 24,759 shares in the company, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $85.89 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $9.48 billion, a P/E ratio of 11.29, a PEG ratio of 0.60 and a beta of 1.35. The stock’s 50 day moving average is $85.35 and its 200 day moving average is $78.18. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.The business had revenue of $836.21 million for the quarter, compared to the consensus estimate of $838.58 million. During the same period last year, the business posted $1.75 EPS. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, August 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.97%.

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.