Western Alliance Bancorporation $WAL is Black Maple Capital Management LP’s 6th Largest Position

Black Maple Capital Management LP lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,192 shares of the financial services provider’s stock after selling 9,908 shares during the period. Western Alliance Bancorporation makes up 2.4% of Black Maple Capital Management LP’s investment portfolio, making the stock its 6th largest position. Black Maple Capital Management LP’s holdings in Western Alliance Bancorporation were worth $5,396,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Western Alliance Bancorporation in the second quarter worth approximately $137,289,000. Nuveen LLC purchased a new position in Western Alliance Bancorporation in the 1st quarter worth approximately $45,486,000. FJ Capital Management LLC increased its holdings in shares of Western Alliance Bancorporation by 824.8% in the 1st quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider’s stock worth $33,998,000 after buying an additional 394,660 shares during the last quarter. Global Frontier Investments LLC purchased a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $22,224,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth $20,390,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL opened at $87.54 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $79.72 and its 200 day simple moving average is $81.18. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.60 and a beta of 1.37. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $94.40.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The firm had revenue of $718.00 million during the quarter. As a group, analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, November 13th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio is currently 20.77%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WAL. Cowen began coverage on Western Alliance Bancorporation in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Truist Financial boosted their target price on Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Finally, UBS Group decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.53.

Insider Transactions at Western Alliance Bancorporation

In other news, CFO Dale Gibbons acquired 4,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the transaction, the chief financial officer owned 300,358 shares of the company’s stock, valued at $23,127,566. The trade was a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.68% of the stock is currently owned by company insiders.

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.