VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 6,900 Western Alliance Bancorporation $WAL

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, Holdings Channel.com reports. The fund purchased 6,900 shares of the financial services provider’s stock, valued at approximately $567,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Western Alliance Bancorporation in the second quarter valued at approximately $926,898,000. California State Teachers Retirement System increased its stake in Western Alliance Bancorporation by 7,896.6% during the 2nd quarter. California State Teachers Retirement System now owns 9,943,405 shares of the financial services provider’s stock worth $817,348,000 after buying an additional 9,819,060 shares during the period. Dimensional Fund Advisors LP increased its stake in Western Alliance Bancorporation by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock worth $270,203,000 after buying an additional 36,534 shares during the period. Davis Asset Management L.P. acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth approximately $274,219,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth approximately $174,329,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Stifel Nicolaus set a $95.00 price objective on Western Alliance Bancorporation in a research note on Thursday, July 23rd. Citigroup lifted their target price on Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, June 25th. TD Cowen boosted their target price on Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Finally, DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a report on Wednesday, July 22nd. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.47.

Western Alliance Bancorporation Trading Down 0.1%

NYSE WAL opened at $79.24 on Tuesday. 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 has a 52 week low of $65.82 and a 52 week high of $97.23. The stock has a market capitalization of $8.64 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.33. The firm has a 50 day moving average of $80.86 and a two-hundred day moving average of $78.64.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, meeting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. During the same period in the prior year, the firm posted $2.07 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, research analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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

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 and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners’ associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.