Public Employees Retirement System of Ohio Purchases Shares of 33,231 Western Alliance Bancorporation $WAL

Public Employees Retirement System of Ohio acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,231 shares of the financial services provider’s stock, valued at approximately $2,732,000.

Several other institutional investors have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Western Alliance Bancorporation during the 2nd quarter valued at $26,000. Clearstead Advisors LLC raised its holdings in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter worth $38,000. Assetmark Inc. lifted its position in shares of Western Alliance Bancorporation by 86.0% in the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 259 shares in the last quarter. Finally, Compound Global Advisors LLC purchased a new stake in shares of Western Alliance Bancorporation in the second quarter valued at $41,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer owned 3,485 shares in the company, valued at $282,285. This trade represents a 63.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.76% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $81.15 on Friday. The company has a market cap of $8.85 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.78 and a beta of 1.33. The business has a fifty day simple moving average of $81.17 and a 200-day simple moving average of $79.25. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting the consensus estimate of $2.36. The firm had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.68 annualized dividend and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio is 18.92%.

Wall Street Analyst Weigh In

WAL has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Friday, August 21st. Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a report on Thursday, July 23rd. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, July 22nd. TD Cowen lifted their price target on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Finally, Mizuho set a $96.00 price objective on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $95.47.

Western Alliance Bancorporation Company 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.