North Reef Capital Management LP Takes Position in Western Alliance Bancorporation (NYSE:WAL)

North Reef Capital Management LP bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 150,000 shares of the financial services provider's stock, valued at approximately $12,531,000. Western Alliance Bancorporation comprises 0.6% of North Reef Capital Management LP's investment portfolio, making the stock its 27th largest position. North Reef Capital Management LP owned 0.14% of Western Alliance Bancorporation at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WAL. Ashton Thomas Private Wealth LLC lifted its position in shares of Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after purchasing an additional 114 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp increased its position in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc raised its holdings in Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock worth $111,000 after purchasing an additional 157 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 163 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Up 0.8 %

Shares of NYSE:WAL traded up $0.55 during midday trading on Tuesday, hitting $70.95. The stock had a trading volume of 713,835 shares, compared to its average volume of 1,294,560. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The business's 50-day simple moving average is $74.09 and its 200-day simple moving average is $83.18. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The company has a market cap of $7.84 billion, a P/E ratio of 9.99, a PEG ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The company had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period in the prior year, the firm earned $1.72 EPS. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 20.85%.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of recent research reports. Stephens reaffirmed an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Royal Bank of Canada reduced 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. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

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.