New York State Teachers Retirement System Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

New York State Teachers Retirement System purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,238 shares of the financial services provider’s stock, valued at approximately $1,577,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the third quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $33,000. ORG Partners LLC purchased a new position in Western Alliance Bancorporation in the second quarter valued at about $36,000. Finally, UMB Bank n.a. grew its stake 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 purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

WAL has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Wedbush boosted their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Stephens restated an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Insider Transactions at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. The trade was 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 Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Stock Performance

WAL opened at $89.86 on Friday. Western Alliance Bancorporation has a twelve month low of $43.20 and a twelve month high of $96.45. The stock has a market cap of $9.89 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The business’s 50 day moving average is $84.55 and its 200-day moving average is $73.29. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is 23.46%.

Western Alliance Bancorporation Company 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.