Gator Capital Management LLC Boosts Stock Holdings in Western Alliance Bancorporation $WAL

Key Points

• Gator Capital Management LLC increased its shares in Western Alliance Bancorporation by 29.1%, acquiring an additional 20,509 shares during the first quarter, bringing its total ownership to 90,979 shares.
• Western Alliance Bancorporation has a current consensus rating of "Moderate Buy" among analysts, with twelve analysts giving it a buy rating and a consensus target price of $96.62.
• The company recently announced a quarterly dividend of $0.38 per share, representing a 1.8% yield, with the dividend set to be paid on August 29th.

Gator Capital Management LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 29.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,979 shares of the financial services provider's stock after acquiring an additional 20,509 shares during the quarter. Western Alliance Bancorporation accounts for about 2.7% of Gator Capital Management LLC's investment portfolio, making the stock its 18th largest holding. Gator Capital Management LLC owned approximately 0.08% of Western Alliance Bancorporation worth $6,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the company. HWG Holdings LP bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $25,000. Tsfg LLC purchased a new position in Western Alliance Bancorporation in the first quarter worth about $33,000. National Bank of Canada FI boosted its stake in Western Alliance Bancorporation by 22.7% during the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 141 shares during the last quarter. UMB Bank n.a. increased its holdings in Western Alliance Bancorporation by 91.5% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $78,000 after buying an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Western Alliance Bancorporation by 144.5% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 1,013 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

WAL traded down $0.34 during trading on Wednesday, hitting $81.71. 161,483 shares of the company traded hands, compared to its average volume of 1,105,764. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The company has a market cap of $9.02 billion, a PE ratio of 10.74, a P/E/G ratio of 0.57 and a beta of 1.33. The stock's 50-day simple moving average is $79.71 and its two-hundred day simple moving average is $77.31. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.03. The firm had revenue of $836.21 million during the quarter, compared to analyst estimates of $838.58 million. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.During the same quarter last year, the business posted $1.75 earnings per share. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WAL shares. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. JPMorgan Chase & Co. increased their target price on Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. DA Davidson raised their target price on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. 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 research report on Wednesday, April 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.75% of the company's stock.

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.