Stieven Capital Advisors L.P. Has $31.91 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Stieven Capital Advisors L.P. cut its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,333 shares of the financial services provider's stock after selling 6,600 shares during the period. Western Alliance Bancorporation accounts for about 6.2% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its largest position. Stieven Capital Advisors L.P. owned approximately 0.38% of Western Alliance Bancorporation worth $31,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. HWG Holdings LP acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $26,000. Tsfg LLC acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at about $33,000. Atala Financial Inc acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $44,000. Finally, UMB Bank n.a. increased its holdings in shares of Western Alliance Bancorporation by 91.5% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 482 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock traded down $0.73 during midday trading on Friday, hitting $84.38. 611,506 shares of the company were exchanged, compared to its average volume of 1,216,996. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83. The firm has a market cap of $9.32 billion, a P/E ratio of 11.57, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The firm has a 50 day simple moving average of $76.08 and a 200-day simple moving average of $78.27.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same quarter last year, the company earned $1.72 EPS. Research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.80%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WAL shares. Truist Financial increased their price objective on Western Alliance Bancorporation from $92.00 to $96.00 and gave the company a "buy" rating in a report on Friday. Royal Bank Of Canada lowered their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Stephens reaffirmed an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, DA Davidson lowered their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.50.

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.