Western Alliance Bancorporation $WAL is Stieven Capital Advisors L.P.’s 2nd Largest Position

Stieven Capital Advisors L.P. decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,533 shares of the financial services provider’s stock after selling 8,800 shares during the period. Western Alliance Bancorporation makes up approximately 6.2% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 2nd biggest position. Stieven Capital Advisors L.P.’s holdings in Western Alliance Bancorporation were worth $33,421,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WAL. Root Financial Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $27,000. Community Bank N.A. purchased a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $37,000. Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 113.0% during the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 235 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $44,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 0.2%

WAL opened at $78.70 on Friday. The firm has a market cap of $8.59 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.59 and a beta of 1.37. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average of $75.04 and a 200 day moving average of $81.68.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The firm’s revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $1.79 earnings per share. As a group, research analysts forecast that Western Alliance Bancorporation will post 9.87 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be given a $0.42 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.68 annualized dividend and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.56%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WAL. TD Cowen lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a research report on Monday, March 9th. Barclays cut their price objective on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods raised their price objective on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $83.00 to $79.00 in a research report on Monday, March 9th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.93.

Western Alliance Bancorporation Company Profile

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.