New York State Teachers Retirement System Has $1.70 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

New York State Teachers Retirement System lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 11.5% during the 4th quarter, Holdings Channel reports. The fund owned 20,331 shares of the financial services provider’s stock after acquiring an additional 2,093 shares during the quarter. New York State Teachers Retirement System’s holdings in Western Alliance Bancorporation were worth $1,698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. GFG Capital LLC acquired a new position in Western Alliance Bancorporation during the 4th quarter worth $298,000. Vicus Capital acquired a new position in Western Alliance Bancorporation during the 4th quarter worth $201,000. Legato Capital Management LLC lifted its holdings in Western Alliance Bancorporation by 11.5% during the 4th quarter. Legato Capital Management LLC now owns 23,817 shares of the financial services provider’s stock worth $1,990,000 after buying an additional 2,465 shares in the last quarter. Compound Global Advisors LLC acquired a new position in Western Alliance Bancorporation during the 4th quarter worth $1,116,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Western Alliance Bancorporation by 4.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after buying an additional 81,238 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WAL has been the subject of several recent research reports. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Trading Down 2.9 %

NYSE WAL opened at $87.10 on Friday. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average is $86.80 and its 200 day moving average is $85.69.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

Western Alliance Bancorporation 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.