State of New Jersey Common Pension Fund D Purchases 327 Shares of Western Alliance Bancorporation (NYSE:WAL)

State of New Jersey Common Pension Fund D boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,258 shares of the financial services provider’s stock after purchasing an additional 327 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Western Alliance Bancorporation were worth $3,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $11,461,000. Franklin Resources Inc. increased its stake in shares of Western Alliance Bancorporation by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock valued at $27,970,000 after acquiring an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $5,099,000. BNP Paribas Financial Markets increased its stake in shares of Western Alliance Bancorporation by 1,091.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after acquiring an additional 31,214 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $3,612,000. 79.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on WAL. Barclays upped their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Trading Down 3.3 %

NYSE:WAL opened at $89.92 on Friday. The company has a market cap of $9.90 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The business has a 50 day moving average price of $86.86 and a two-hundred day moving average price of $85.56.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

Western Alliance Bancorporation Company Profile

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.