Western Alliance Bancorporation $WAL Shares Acquired by Gator Capital Management LLC

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 raised its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,979 shares of the financial services provider's stock after acquiring an additional 20,509 shares during the period. Western Alliance Bancorporation makes up 2.7% of Gator Capital Management LLC's holdings, making the stock its 18th biggest 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 institutional investors have also made changes to their positions in the stock. National Bank of Canada FI raised its holdings in shares of Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after buying an additional 141 shares during the period. MidWestOne Financial Group Inc. raised its holdings in shares of Western Alliance Bancorporation by 0.6% in the 4th quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock valued at $2,226,000 after buying an additional 160 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Western Alliance Bancorporation by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock valued at $258,000 after buying an additional 166 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Western Alliance Bancorporation by 2.9% in the 1st quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider's stock valued at $465,000 after buying an additional 169 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Western Alliance Bancorporation by 3.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider's stock valued at $460,000 after buying an additional 197 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the sale, the insider directly owned 24,759 shares of the company's stock, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.75% of the company's stock.

Wall Street Analyst Weigh In

WAL has been the topic of several research analyst reports. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Piper Sandler boosted their target price on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. DA Davidson boosted their target price on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Barclays boosted their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Truist Financial lowered their target price on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Trading Down 1.2%

Shares of WAL traded down $1.0130 during trading hours on Tuesday, hitting $81.8670. The stock had a trading volume of 971,845 shares, compared to its average volume of 1,111,875. The company's fifty day simple moving average is $79.58 and its 200 day simple moving average is $77.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $98.10. The firm has a market cap of $9.04 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.57 and a beta of 1.33.

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

Western Alliance Bancorporation Announces Dividend

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

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.