Teachers Retirement System of The State of Kentucky Purchases 11,991 Shares of Western Alliance Bancorporation (NYSE:WAL)

Teachers Retirement System of The State of Kentucky lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 42.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,561 shares of the financial services provider’s stock after buying an additional 11,991 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Western Alliance Bancorporation were worth $3,508,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in Western Alliance Bancorporation by 46.2% during the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after buying an additional 1,418,472 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after acquiring an additional 636,577 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Western Alliance Bancorporation by 0.7% during the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after acquiring an additional 20,876 shares in the last quarter. FMR LLC boosted its position in Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after purchasing an additional 1,347,921 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Western Alliance Bancorporation by 4.1% in the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock valued at $164,019,000 after purchasing an additional 74,956 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Truist Financial decreased their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Wedbush lifted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.40.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $89.70 on Friday. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.41 and a beta of 1.45. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a fifty day moving average price of $89.09 and a 200-day moving average price of $78.62.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.69%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

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.