Western Alliance Bancorporation $WAL Stock Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,876 shares of the financial services provider’s stock after buying an additional 8,265 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Western Alliance Bancorporation worth $7,100,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WAL. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $26,000. Quent Capital LLC purchased a new position in Western Alliance Bancorporation during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter worth approximately $27,000. Finally, Hantz Financial Services Inc. lifted its position in Western Alliance Bancorporation by 995.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after buying an additional 478 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $105.00 price target (up from $100.00) on shares of Western Alliance Bancorporation in a report on Wednesday, January 28th. Royal Bank Of Canada boosted their target price on Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research note on Monday, December 29th. Jefferies Financial Group boosted their price target on Western Alliance Bancorporation from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, October 23rd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.73.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $92.00 on Thursday. The firm has a market capitalization of $10.12 billion, a PE ratio of 10.54, a PEG ratio of 0.77 and a beta of 1.37. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $93.81. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $86.94 and its 200 day simple moving average is $83.97.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. The company had revenue of $913.50 million during the quarter, compared to analysts’ expectations of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 earnings per share. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.