Louisiana State Employees Retirement System Purchases Shares of 30,200 Western Alliance Bancorporation (NYSE:WAL)

Louisiana State Employees Retirement System purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,200 shares of the financial services provider’s stock, valued at approximately $2,612,000.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $33,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Western Alliance Bancorporation in the first quarter valued at about $27,000. UMB Bank n.a. lifted its stake in shares of Western Alliance Bancorporation by 136.8% in the third 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 during the period. Finally, Blue Trust Inc. lifted its stake in shares of Western Alliance Bancorporation by 58.4% in 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 period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $84.73 on Tuesday. Western Alliance Bancorporation has a 1 year low of $39.03 and a 1 year high of $94.28. The firm has a 50 day moving average of $83.36 and a 200-day moving average of $71.63. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $9.33 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 22.84%.

Insider Activity

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,149 shares of company stock worth $1,539,681. Insiders own 2.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WAL shares. Bank of America increased their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Wedbush increased their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group raised their price target on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.60.

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.