Teacher Retirement System of Texas Increases Stake in Western Alliance Bancorporation (WAL)

Teacher Retirement System of Texas grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 319.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,515 shares of the financial services provider’s stock after buying an additional 26,278 shares during the period. Teacher Retirement System of Texas’ holdings in Western Alliance Bancorporation were worth $1,954,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of Western Alliance Bancorporation by 10.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,601,997 shares of the financial services provider’s stock valued at $203,946,000 after buying an additional 344,601 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Western Alliance Bancorporation by 5.9% during the 3rd quarter. Schroder Investment Management Group now owns 2,174,113 shares of the financial services provider’s stock valued at $114,119,000 after buying an additional 120,269 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Western Alliance Bancorporation by 78.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,114,177 shares of the financial services provider’s stock valued at $59,141,000 after buying an additional 489,157 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Western Alliance Bancorporation by 0.5% during the 3rd quarter. Epoch Investment Partners Inc. now owns 910,707 shares of the financial services provider’s stock valued at $48,340,000 after buying an additional 4,936 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Western Alliance Bancorporation by 46.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 570,941 shares of the financial services provider’s stock valued at $30,306,000 after buying an additional 181,812 shares in the last quarter. Hedge funds and other institutional investors own 81.96% of the company’s stock.

Western Alliance Bancorporation (WAL) opened at $59.65 on Friday. The stock has a market cap of $6,319.73, a PE ratio of 19.24, a P/E/G ratio of 1.15 and a beta of 1.63. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $61.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. The company had revenue of $224.72 million for the quarter, compared to analysts’ expectations of $225.19 million. Western Alliance Bancorporation had a net margin of 39.76% and a return on equity of 16.38%. During the same quarter in the previous year, the business posted $0.70 EPS. analysts expect that Western Alliance Bancorporation will post 4.01 earnings per share for the current year.

WAL has been the topic of a number of research reports. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. ValuEngine cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Barclays boosted their target price on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Co restated an “outperform” rating and set a $62.00 target price (up previously from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. Finally, Stephens started coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $66.59.

In other Western Alliance Bancorporation news, SVP J. Kelly Jr. Ardrey sold 538 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $60.30, for a total transaction of $32,441.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $56.36, for a total transaction of $169,080.00. Following the transaction, the executive vice president now owns 20,200 shares in the company, valued at approximately $1,138,472. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,480 shares of company stock worth $497,139. 7.95% of the stock is currently owned by company insiders.

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About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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