Stieven Capital Advisors L.P. Has $31.64 Million Stock Holdings in Western Alliance Bancorporation $WAL

by · The Cerbat Gem

Stieven Capital Advisors L.P. trimmed its position in shares of Western Alliance Bancorporation (NYSE:WAL – Free Report) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 405,733 shares of the financial services provider’s stock after selling 9,600 shares during the quarter. Western Alliance Bancorporation makes up 6.2% of Stieven Capital Advisors L.P.’s holdings, making the stock its 2nd largest holding. Stieven Capital Advisors L.P.’s holdings in Western Alliance Bancorporation were worth $31,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Western Alliance Bancorporation by 6.2% during the second quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 136 shares during the last quarter. National Bank of Canada FI grew its stake in shares of 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 period. ProShare Advisors LLC increased its position in shares of Western Alliance Bancorporation by 4.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 188 shares during the last quarter. Signaturefd LLC increased its position in shares of Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 213 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its stake in shares of Western Alliance Bancorporation by 3.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 8,148 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 256 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $75.91 on Friday. The stock has a 50-day moving average price of $81.34 and a 200 day moving average price of $80.27. The stock has a market capitalization of $8.35 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.52 and a beta of 1.45. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $98.10. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The business had revenue of $718.00 million during the quarter. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 13th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. Western Alliance Bancorporation’s dividend payout ratio is currently 20.77%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WAL shares. Weiss Ratings lowered shares of Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, October 23rd. UBS Group reduced their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. TD Cowen started coverage on Western Alliance Bancorporation in a research report on Thursday, September 25th. They set a “buy” rating and a $118.00 target price on the stock. Finally, Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.53.

Read Our Latest Stock Report on WAL

Insiders Place Their Bets

In other news, CFO Dale Gibbons purchased 4,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was acquired at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the acquisition, the chief financial officer directly owned 300,358 shares of the company’s stock, valued at $23,127,566. This represents a 1.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.68% of the stock is owned by corporate insiders.

Western Alliance Bancorporation Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Alliance Bancorporation (NYSE:WAL – Free Report).