Western Alliance Bancorporation (NYSE:WAL) is Black Maple Capital Management LP's Largest Position

Black Maple Capital Management LP increased its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3,042.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,000 shares of the financial services provider's stock after buying an additional 106,500 shares during the period. Western Alliance Bancorporation accounts for approximately 4.8% of Black Maple Capital Management LP's investment portfolio, making the stock its biggest position. Black Maple Capital Management LP owned approximately 0.10% of Western Alliance Bancorporation worth $9,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC grew its position in Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after buying an additional 114 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp increased its position 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 worth $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc raised its stake in Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 157 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Western Alliance Bancorporation by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 163 shares during the period. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Down 1.0 %

WAL stock traded down $0.73 during mid-day trading on Friday, reaching $74.22. The company's stock had a trading volume of 170,910 shares, compared to its average volume of 1,212,666. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The business's 50 day moving average price is $71.74 and its 200 day moving average price is $82.33. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same period in the previous year, the company posted $1.72 EPS. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. DA Davidson decreased their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Stephens restated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Barclays reduced 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. Finally, Piper Sandler increased their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.