Public Employees Retirement System of Ohio Buys New Position in Western Alliance Bancorporation $WAL

Public Employees Retirement System of Ohio acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,231 shares of the financial services provider’s stock, valued at approximately $2,732,000.

A number of other institutional investors have also modified their holdings of the business. NewEdge Advisors LLC boosted its stake in Western Alliance Bancorporation by 71.2% during the 1st quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 3,249 shares during the period. Jones Financial Companies Lllp increased its stake in Western Alliance Bancorporation by 513.5% in the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,448 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Western Alliance Bancorporation by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after buying an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Western Alliance Bancorporation by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after buying an additional 35,276 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Western Alliance Bancorporation by 11.3% during the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock worth $547,000 after buying an additional 713 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Truist Financial increased their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. TD Cowen boosted their target price on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a report on Monday, July 27th. Piper Sandler increased their price target on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Mizuho set a $96.00 price objective on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.47.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $81.15 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. The stock has a 50 day simple moving average of $81.17 and a 200-day simple moving average of $79.25. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.78 and a beta of 1.33. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.36. The firm had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.Western Alliance Bancorporation’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is presently 18.92%.

Insider Transactions at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. This trade represents a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.76% of the company’s stock.

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.