New York State Common Retirement Fund Has $7.10 Million Stock Position in Western Alliance Bancorporation $WAL

New York State Common Retirement Fund boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,876 shares of the financial services provider’s stock after purchasing an additional 8,265 shares during the quarter. New York State Common Retirement Fund’s holdings in Western Alliance Bancorporation were worth $7,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth about $26,000. Quent Capital LLC acquired a new stake in Western Alliance Bancorporation during the third quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $27,000. Root Financial Partners LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $27,000. Finally, Hantz Financial Services Inc. raised its holdings in Western Alliance Bancorporation by 995.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 478 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WAL. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday. Industrial Alliance Securities set a $101.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods boosted their price target on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group raised their price objective on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, October 23rd. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.73.

Western Alliance Bancorporation Stock Up 0.7%

Shares of NYSE:WAL opened at $92.00 on Thursday. The company’s fifty day moving average is $86.94 and its 200-day moving average is $83.97. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.79 and a current ratio of 0.83. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $93.81. The company has a market capitalization of $10.12 billion, a PE ratio of 10.54, a P/E/G ratio of 0.77 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.19. The firm had revenue of $913.50 million during the quarter, compared to the consensus estimate of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm posted $1.95 EPS. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.