Alaska Permanent Fund Corp Has $3.71 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Alaska Permanent Fund Corp cut its stake in Western Alliance Bancorporation (NYSE:WAL) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,424 shares of the financial services provider’s stock after selling 3,376 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Western Alliance Bancorporation were worth $3,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Smead Capital Management Inc. acquired a new position in Western Alliance Bancorporation during the fourth quarter worth $77,957,000. Barclays PLC boosted its holdings in Western Alliance Bancorporation by 489.0% during the third quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock valued at $61,320,000 after acquiring an additional 1,107,431 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Western Alliance Bancorporation by 103.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock valued at $113,510,000 after acquiring an additional 876,413 shares during the period. Invesco Ltd. boosted its holdings in Western Alliance Bancorporation by 170.4% during the third quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider’s stock valued at $59,507,000 after acquiring an additional 815,737 shares during the period. Finally, Boston Partners bought a new stake in Western Alliance Bancorporation during the third quarter valued at about $30,368,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. DA Davidson decreased their price target on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a report on Monday. Barclays reduced their target price on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Tuesday. Jefferies Financial Group reduced their target price on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Stephens restated an “overweight” rating and set a $82.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Finally, Royal Bank of Canada cut their price target on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.56.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock traded down $0.45 during midday trading on Wednesday, reaching $59.37. The company had a trading volume of 617,974 shares, compared to its average volume of 1,457,410. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 8.57 and a beta of 1.47. The stock has a fifty day simple moving average of $59.43 and a 200 day simple moving average of $56.82. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same quarter in the previous year, the business earned $2.30 EPS. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.83 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.57%.

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.