Public Employees Retirement Association of Colorado Reduces Position in Western Alliance Bancorporation (NYSE:WAL)

Public Employees Retirement Association of Colorado cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 85.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,432 shares of the financial services provider’s stock after selling 414,515 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.07% of Western Alliance Bancorporation worth $2,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WAL. FMR LLC grew its holdings in shares of Western Alliance Bancorporation by 292.4% during the second quarter. FMR LLC now owns 1,918,079 shares of the financial services provider’s stock valued at $72,638,000 after buying an additional 1,429,280 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Western Alliance Bancorporation by 83.2% during the second quarter. Thrivent Financial for Lutherans now owns 2,872,369 shares of the financial services provider’s stock valued at $108,776,000 after buying an additional 1,304,456 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Western Alliance Bancorporation during the second quarter valued at $18,309,000. Macquarie Group Ltd. grew its holdings in shares of Western Alliance Bancorporation by 12.1% during the second quarter. Macquarie Group Ltd. now owns 2,567,254 shares of the financial services provider’s stock valued at $97,222,000 after buying an additional 277,252 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Western Alliance Bancorporation by 188.2% during the second quarter. LSV Asset Management now owns 243,141 shares of the financial services provider’s stock valued at $9,207,000 after buying an additional 158,766 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Timothy W. Boothe sold 2,500 shares of the company’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $51.81, for a total transaction of $129,525.00. Following the completion of the transaction, the chief operating officer now owns 52,194 shares in the company, valued at approximately $2,704,171.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.46% of the company’s stock.

Shares of Western Alliance Bancorporation stock opened at $53.41 on Friday. The firm has a 50-day simple moving average of $41.76 and a two-hundred day simple moving average of $37.47. The company has a market cap of $5.39 billion, a P/E ratio of 12.57 and a beta of 1.76. Western Alliance Bancorporation has a fifty-two week low of $20.90 and a fifty-two week high of $58.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.32. The business had revenue of $305.30 million during the quarter, compared to the consensus estimate of $312.24 million. Western Alliance Bancorporation had a net margin of 32.82% and a return on equity of 14.37%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 3.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 20.66%.

WAL has been the subject of a number of research reports. Truist boosted their target price on shares of Western Alliance Bancorporation from $41.00 to $50.00 in a research report on Monday, November 2nd. Wells Fargo & Company restated a “hold” rating on shares of Western Alliance Bancorporation in a research report on Friday, October 23rd. Stephens restated an “overweight” rating and set a $51.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, November 4th. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $42.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Finally, ValuEngine downgraded shares of Western Alliance Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $44.20.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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