Strs Ohio Sells 67,216 Shares of Western Alliance Bancorporation $WAL

Strs Ohio decreased its position in Western Alliance Bancorporation (NYSE:WAL) by 96.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,584 shares of the financial services provider’s stock after selling 67,216 shares during the quarter. Strs Ohio’s holdings in Western Alliance Bancorporation were worth $217,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Western Alliance Bancorporation by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after purchasing an additional 58,535 shares during the period. William Blair Investment Management LLC boosted its position in Western Alliance Bancorporation by 3.5% during the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after purchasing an additional 81,386 shares during the period. Hudson Bay Capital Management LP bought a new stake in Western Alliance Bancorporation during the third quarter worth approximately $13,339,000. M&T Bank Corp boosted its position in Western Alliance Bancorporation by 7,920.9% during the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock worth $26,535,000 after purchasing an additional 311,689 shares during the period. Finally, MidWestOne Financial Group Inc. boosted its position in Western Alliance Bancorporation by 42.4% during the third quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 10,887 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 5.9%

WAL opened at $77.06 on Tuesday. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.62 and a beta of 1.37. The business has a 50 day moving average of $75.10 and a 200-day moving average of $81.78.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The company had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. During the same period in the prior year, the business earned $1.79 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.92 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 19.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WAL shares. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. iA Financial set a $101.00 target price on Western Alliance Bancorporation in a research report on Wednesday, January 28th. DA Davidson reaffirmed a “buy” rating and set a $93.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, April 22nd. UBS Group upped their target price on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Piper Sandler decreased their target price on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Western Alliance Bancorporation 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.