Gator Capital Management LLC Has $5.89 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Gator Capital Management LLC lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 31.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,470 shares of the financial services provider’s stock after selling 31,830 shares during the quarter. Western Alliance Bancorporation comprises about 2.2% of Gator Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Gator Capital Management LLC owned 0.06% of Western Alliance Bancorporation worth $5,887,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Retirement Systems of Alabama acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth $11,461,000. Franklin Resources Inc. raised its position in shares of Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after acquiring an additional 45,764 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock valued at $8,090,000 after acquiring an additional 8,201 shares during the period. Norden Group LLC bought a new position in Western Alliance Bancorporation in the fourth quarter valued at about $727,000. Finally, Generate Investment Management Ltd increased its position in Western Alliance Bancorporation by 0.7% in the fourth quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider’s stock worth $34,842,000 after purchasing an additional 2,772 shares during the period. Institutional investors own 79.15% of the company’s stock.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Piper Sandler raised their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $61.95 on Friday. The company has a fifty day moving average price of $82.44 and a 200 day moving average price of $85.63. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The firm has a market cap of $6.84 billion, a PE ratio of 8.73, a PEG ratio of 0.63 and a beta of 1.29. 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 (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 2.45%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

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.