Stieven Capital Advisors L.P. Sells 46,700 Shares of Western Alliance Bancorporation (NYSE:WAL)

Stieven Capital Advisors L.P. lessened its stake in Western Alliance Bancorporation (NYSE:WAL) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,933 shares of the financial services provider’s stock after selling 46,700 shares during the quarter. Western Alliance Bancorporation comprises 6.3% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its biggest position. Stieven Capital Advisors L.P. owned 0.38% of Western Alliance Bancorporation worth $35,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of WAL. Fifth Third Bancorp increased its stake in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares during the period. Versant Capital Management Inc boosted its position in Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after buying an additional 157 shares during the period. Pacer Advisors Inc. grew its holdings in Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 163 shares during the last quarter. Blue Trust Inc. increased its position in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Western Alliance Bancorporation by 18.7% during the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 1.5 %

NYSE:WAL opened at $88.64 on Friday. The firm has a fifty day simple moving average of $86.85 and a two-hundred day simple moving average of $85.22. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.64 and a beta of 1.46. 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 results on Monday, January 27th. The financial services provider reported $1.95 earnings per share 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%. Analysts expect that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WAL. Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, February 8th. Truist Financial lowered their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. DA Davidson reduced their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Stephens restated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.07.

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.