California Public Employees Retirement System Has $8.13 Million Position in Western Alliance Bancorporation (WAL)

California Public Employees Retirement System lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,091 shares of the financial services provider’s stock after selling 15,661 shares during the period. California Public Employees Retirement System’s holdings in Western Alliance Bancorporation were worth $8,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc boosted its stake in shares of Western Alliance Bancorporation by 1.7% during the third quarter. Vanguard Group Inc now owns 8,348,025 shares of the financial services provider’s stock valued at $474,919,000 after acquiring an additional 142,664 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Western Alliance Bancorporation by 5.0% during the fourth quarter. BlackRock Inc. now owns 4,679,054 shares of the financial services provider’s stock valued at $184,775,000 after acquiring an additional 222,975 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Western Alliance Bancorporation by 1.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,711,384 shares of the financial services provider’s stock valued at $107,073,000 after acquiring an additional 27,734 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Western Alliance Bancorporation by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 1,832,108 shares of the financial services provider’s stock valued at $104,229,000 after acquiring an additional 95,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Western Alliance Bancorporation by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,381 shares of the financial services provider’s stock valued at $47,167,000 after acquiring an additional 42,204 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:WAL opened at $43.99 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.14. Western Alliance Bancorporation has a 12-month low of $37.39 and a 12-month high of $64.06. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, April 22nd. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Western Alliance Bancorporation had a return on equity of 17.84% and a net margin of 40.08%. The firm had revenue of $259.90 million for the quarter, compared to analyst estimates of $266.48 million. During the same period last year, the company earned $0.96 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that Western Alliance Bancorporation will post 4.74 earnings per share for the current year.

In other Western Alliance Bancorporation news, EVP Randall S. Theisen sold 6,358 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total value of $293,548.86. Following the sale, the executive vice president now directly owns 39,869 shares of the company’s stock, valued at approximately $1,840,751.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Gary Sarver sold 66,351 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $46.71, for a total value of $3,099,255.21. Following the completion of the sale, the insider now directly owns 59,504 shares in the company, valued at $2,779,431.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,709 shares of company stock worth $3,482,744. 7.72% of the stock is owned by corporate insiders.

A number of research firms recently commented on WAL. ValuEngine raised Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Wells Fargo & Co increased their price objective on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $59.88.

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Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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

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