Black Maple Capital Management LP Boosts Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Black Maple Capital Management LP lifted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3,042.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,000 shares of the financial services provider's stock after acquiring an additional 106,500 shares during the quarter. Western Alliance Bancorporation comprises approximately 4.8% of Black Maple Capital Management LP's holdings, making the stock its largest position. Black Maple Capital Management LP owned about 0.10% of Western Alliance Bancorporation worth $9,189,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WAL. Norges Bank acquired a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after buying an additional 648,983 shares during the period. Principal Financial Group Inc. grew its stake in Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after buying an additional 506,778 shares during the last quarter. Bank of Montreal Can raised its holdings in Western Alliance Bancorporation by 973.1% in the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after acquiring an additional 382,513 shares during the period. Finally, Global Frontier Investments LLC acquired a new position in Western Alliance Bancorporation during the 4th quarter worth $23,809,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 2.5 %

NYSE WAL opened at $72.78 on Friday. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.63 and a beta of 1.29. The stock's 50 day moving average is $72.81 and its two-hundred day moving average is $82.69. 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 - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The business had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. During the same quarter in the previous year, the firm earned $1.72 EPS. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Wall Street Analyst Weigh In

WAL has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. DA Davidson reduced their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler boosted their target price on shares of 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, Royal Bank of Canada reduced their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation 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.

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