Sippican Capital Advisors Has $781,000 Stock Position in Western Alliance Bancorporation $WAL

Sippican Capital Advisors lowered its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 47.6% in the first quarter, HoldingsChannel reports. The firm owned 11,020 shares of the financial services provider’s stock after selling 9,995 shares during the period. Sippican Capital Advisors’ holdings in Western Alliance Bancorporation were worth $781,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Clearstead Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares during the last quarter. Community Bank N.A. bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $37,000. Los Angeles Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $38,000. Leonteq Securities AG bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $44,000. Finally, V Square Quantitative Management LLC bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $82.67 on Tuesday. The stock has a 50 day simple moving average of $79.64 and a 200 day simple moving average of $81.78. The stock has a market cap of $9.03 billion, a P/E ratio of 9.62, a PEG ratio of 0.64 and a beta of 1.34. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year 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.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The firm had revenue of $968.40 million for 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 company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 EPS. Research analysts anticipate that Western Alliance Bancorporation will post 9.81 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is presently 19.56%.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Barclays reduced their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, UBS Group upped their price target on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.07.

Insider Activity

In related news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.75% of the company’s stock.

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.