State of New Jersey Common Pension Fund D Increases Position in Western Alliance Bancorporation (NYSE:WAL)

State of New Jersey Common Pension Fund D lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.2% during the third quarter, Holdings Channel reports. The institutional investor owned 35,931 shares of the financial services provider’s stock after purchasing an additional 1,790 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Western Alliance Bancorporation were worth $3,108,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WAL. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter worth approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the 1st quarter worth approximately $27,000. UMB Bank n.a. grew its holdings in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.4 %

WAL opened at $93.01 on Wednesday. The stock’s 50 day moving average price is $84.79 and its 200-day moving average price is $73.73. Western Alliance Bancorporation has a one year low of $43.20 and a one year high of $96.45. 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 market cap of $10.24 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.42 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results 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). The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WAL shares. Wedbush upped their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Bank of America increased their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Piper Sandler lowered their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Barclays boosted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

About Western Alliance Bancorporation

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.