Alaska Permanent Fund Corp Sells 3,376 Shares of Western Alliance Bancorporation (NYSE:WAL)

Alaska Permanent Fund Corp decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,424 shares of the financial services provider’s stock after selling 3,376 shares during the quarter. Alaska Permanent Fund Corp owned approximately 0.05% of Western Alliance Bancorporation worth $3,712,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $1,173,000. Impact Partnership Wealth LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $146,000. Handelsbanken Fonder AB raised its holdings in shares of Western Alliance Bancorporation by 9.5% during the third quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 1,500 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $9,941,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Western Alliance Bancorporation by 5.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 487 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of WAL traded down $0.45 during mid-day trading on Wednesday, reaching $59.37. The stock had a trading volume of 617,974 shares, compared to its average volume of 1,457,410. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 8.57 and a beta of 1.47. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23. The business has a fifty day moving average of $59.43 and a 200 day moving average of $56.82. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same quarter in the previous year, the firm earned $2.30 earnings per share. Equities analysts predict that Western Alliance Bancorporation will post 7.83 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WAL. Royal Bank of Canada reduced their price objective on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group reduced their price objective on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Keefe, Bruyette & Woods reduced their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday. Truist Financial reduced their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday. Finally, DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

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.