Strs Ohio Cuts Holdings in Western Alliance Bancorporation $WAL

Strs Ohio lessened its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.6% in the third quarter, Holdings Channel.com reports. The fund owned 69,800 shares of the financial services provider’s stock after selling 13,943 shares during the quarter. Strs Ohio’s holdings in Western Alliance Bancorporation were worth $6,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth about $26,000. Quent Capital LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in Western Alliance Bancorporation in the third quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new position in Western Alliance Bancorporation during the third quarter valued at approximately $27,000. Finally, Hantz Financial Services Inc. grew its stake in Western Alliance Bancorporation by 995.8% during the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after buying an additional 478 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, January 9th. Royal Bank Of Canada raised their price objective on Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research note on Monday, December 29th. Industrial Alliance Securities set a $108.00 target price on Western Alliance Bancorporation in a report on Wednesday, January 7th. Finally, TD Cowen reduced their price target on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.20.

Western Alliance Bancorporation Stock Up 1.5%

Shares of Western Alliance Bancorporation stock opened at $88.34 on Tuesday. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $94.40. The company has a market capitalization of $9.72 billion, a PE ratio of 10.92, a P/E/G ratio of 0.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.80. The business has a 50-day moving average of $85.25 and a 200-day moving average of $83.63.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.42 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, November 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.9%. Western Alliance Bancorporation’s payout ratio is 20.77%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons bought 4,000 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $77.00 per share, with a total value of $308,000.00. Following the transaction, the chief financial officer directly owned 300,358 shares in the company, valued at approximately $23,127,566. This trade represents a 1.35% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.75% of the stock is owned by corporate insiders.

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.