Stieven Capital Advisors L.P. Has $40.53 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Stieven Capital Advisors L.P. reduced its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 468,633 shares of the financial services provider's stock after selling 34,800 shares during the period. Western Alliance Bancorporation accounts for about 7.7% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its biggest holding. Stieven Capital Advisors L.P. owned about 0.43% of Western Alliance Bancorporation worth $40,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Western Alliance Bancorporation by 0.6% in the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider's stock worth $1,911,000 after acquiring an additional 164 shares during the period. Blue Trust Inc. increased its stake in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 187 shares during the period. Versant Capital Management Inc raised its holdings in shares of Western Alliance Bancorporation by 26.5% during the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider's stock valued at $73,000 after buying an additional 244 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock worth $37,000 after buying an additional 249 shares during the period. Finally, Signaturefd LLC grew its holdings in Western Alliance Bancorporation by 18.7% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider's stock worth $138,000 after buying an additional 252 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Down 1.2 %

WAL traded down $1.10 during trading on Friday, reaching $90.38. The company had a trading volume of 1,000,731 shares, compared to its average volume of 1,501,575. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 12-month low of $47.54 and a 12-month high of $96.45. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.42 and a beta of 1.44. The firm's 50-day simple moving average is $85.78 and its 200 day simple moving average is $74.68.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Equities research analysts anticipate that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio is presently 22.84%.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares of the company's stock, valued at approximately $650,843.43. The trade was a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company's stock, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

WAL has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Wedbush lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Piper Sandler decreased their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Stephens reissued an "overweight" rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.73.

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.