Strs Ohio Decreases Position in Western Alliance Bancorporation $WAL

Strs Ohio decreased its position in Western Alliance Bancorporation (NYSE:WAL) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 69,800 shares of the financial services provider’s stock after selling 13,943 shares during the period. Strs Ohio owned about 0.06% of Western Alliance Bancorporation worth $6,053,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WCM Investment Management LLC increased its holdings in Western Alliance Bancorporation by 5.4% during the 2nd quarter. WCM Investment Management LLC now owns 234,809 shares of the financial services provider’s stock valued at $18,226,000 after acquiring an additional 12,116 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Western Alliance Bancorporation by 17.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,842 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 580 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Western Alliance Bancorporation by 0.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after purchasing an additional 20,704 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Western Alliance Bancorporation by 14.5% during the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock worth $18,681,000 after purchasing an additional 27,329 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its stake in Western Alliance Bancorporation by 100.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the financial services provider’s stock valued at $3,275,000 after buying an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WAL shares. Royal Bank Of Canada raised their price target on Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Wall Street Zen raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Truist Financial set a $98.00 price objective on Western Alliance Bancorporation in a research report on Friday, January 9th. Industrial Alliance Securities set a $108.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, January 7th. Finally, Barclays lifted their price target on shares of Western Alliance Bancorporation from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.20.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $88.34 on Tuesday. The business’s 50-day moving average price is $85.25 and its 200 day moving average price is $83.63. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $94.40. The company has a market capitalization of $9.72 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 0.53 and a beta of 1.34.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were given a $0.42 dividend. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, November 13th. Western Alliance Bancorporation’s dividend payout ratio is 20.77%.

Insider Transactions at Western Alliance Bancorporation

In related news, CFO Dale Gibbons purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average price of $77.00 per share, with a total value of $308,000.00. Following the completion of the transaction, the chief financial officer owned 300,358 shares of the company’s stock, valued at approximately $23,127,566. This trade represents a 1.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.75% of the company’s stock.

About Western Alliance Bancorporation

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.