Maryland State Retirement & Pension System Sells 1,115 Shares of Western Alliance Bancorporation (NYSE:WAL)

Maryland State Retirement & Pension System lessened its holdings in Western Alliance Bancorporation (NYSE:WAL) by 18.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,018 shares of the financial services provider’s stock after selling 1,115 shares during the period. Maryland State Retirement & Pension System’s holdings in Western Alliance Bancorporation were worth $386,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HWG Holdings LP bought a new position in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $25,000. Tsfg LLC bought a new position in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $33,000. UMB Bank n.a. lifted its stake in shares of Western Alliance Bancorporation by 91.5% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 482 shares during the period. Larson Financial Group LLC lifted its stake in shares of Western Alliance Bancorporation by 144.5% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,013 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Western Alliance Bancorporation by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 758 shares during the period. Institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the transaction, the insider directly owned 24,759 shares of the company’s stock, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.6%

Shares of WAL opened at $82.59 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a 50 day simple moving average of $79.40 and a two-hundred day simple moving average of $77.40. The firm has a market cap of $9.12 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $836.21 million during the quarter, compared to analyst estimates of $838.58 million. During the same period last year, the firm posted $1.75 EPS. On average, equities analysts expect 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 will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.8%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, July 21st. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a “buy” rating and a $95.00 target price on the stock. DA Davidson raised their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Barclays raised their target price on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada decreased their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $96.62.

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.