Stieven Capital Advisors L.P. Sells 6,600 Shares of Western Alliance Bancorporation (NYSE:WAL)

Stieven Capital Advisors L.P. decreased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 415,333 shares of the financial services provider's stock after selling 6,600 shares during the quarter. Western Alliance Bancorporation accounts for about 6.2% of Stieven Capital Advisors L.P.'s holdings, making the stock its biggest holding. Stieven Capital Advisors L.P. owned about 0.38% of Western Alliance Bancorporation worth $31,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WAL. Diversify Wealth Management LLC raised its holdings in Western Alliance Bancorporation by 38.1% during the first quarter. Diversify Wealth Management LLC now owns 8,297 shares of the financial services provider's stock worth $589,000 after purchasing an additional 2,291 shares in the last quarter. Xponance Inc. increased its stake in Western Alliance Bancorporation by 3.0% in the 1st quarter. Xponance Inc. now owns 12,761 shares of the financial services provider's stock valued at $980,000 after buying an additional 367 shares during the period. State of Michigan Retirement System grew its stake in shares of Western Alliance Bancorporation by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 26,100 shares of the financial services provider's stock worth $2,005,000 after purchasing an additional 300 shares during the period. M&T Bank Corp grew its stake in shares of Western Alliance Bancorporation by 4.5% during the 1st quarter. M&T Bank Corp now owns 5,926 shares of the financial services provider's stock worth $455,000 after purchasing an additional 256 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Western Alliance Bancorporation by 3.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider's stock worth $460,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

WAL stock traded down $4.26 during trading on Tuesday, hitting $80.98. The company had a trading volume of 1,099,468 shares, compared to its average volume of 1,214,386. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 0.64 and a beta of 1.29. The business has a 50 day moving average of $76.34 and a 200 day moving average of $78.24. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.73.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly 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. Western Alliance Bancorporation had a net margin of 15.80% and a return on equity of 12.57%. The firm had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same period in the previous year, the business earned $1.72 earnings per share. As a group, research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. DA Davidson cut their price target 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. Barclays lifted their price objective on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Stephens reissued an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target for the company. Two 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 stock currently has an average rating of "Moderate Buy" and an average price target 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.