Stevens Capital Management LP Reduces Stake in Western Alliance Bancorporation (NYSE:WAL)

Stevens Capital Management LP lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 29.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,320 shares of the financial services provider’s stock after selling 11,007 shares during the quarter. Stevens Capital Management LP’s holdings in Western Alliance Bancorporation were worth $1,177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Western Alliance Bancorporation by 1,048.3% in the 2nd quarter. Bessemer Group Inc. now owns 666 shares of the financial services provider’s stock worth $30,000 after buying an additional 608 shares during the period. Signaturefd LLC lifted its stake in shares of Western Alliance Bancorporation by 180.1% in the 1st quarter. Signaturefd LLC now owns 846 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 544 shares during the period. Private Capital Group LLC lifted its stake in shares of Western Alliance Bancorporation by 69.6% in the 1st quarter. Private Capital Group LLC now owns 1,611 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 661 shares during the period. Bremer Bank National Association purchased a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $97,000. Finally, Machina Capital S.A.S. purchased a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at approximately $103,000. Institutional investors and hedge funds own 83.68% of the company’s stock.

WAL opened at $42.95 on Friday. The stock has a market cap of $4.40 billion, a PE ratio of 9.38, a PEG ratio of 0.81 and a beta of 1.60. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $45.47 and a 200-day moving average of $44.77. Western Alliance Bancorporation has a 52 week low of $37.39 and a 52 week high of $60.01.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.03. Western Alliance Bancorporation had a return on equity of 17.76% and a net margin of 39.87%. The company had revenue of $267.30 million during the quarter, compared to analysts’ expectations of $274.37 million. During the same quarter last year, the business posted $0.99 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts anticipate that Western Alliance Bancorporation will post 4.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, August 15th.

A number of research analysts have recently commented on the company. Wedbush restated an “outperform” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, July 16th. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 29th. ValuEngine upgraded Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co raised their target price on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.00.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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