Blackhawk Capital Partners LLC. Decreases Holdings in Western Alliance Bancorporation (NYSE:WAL)

Blackhawk Capital Partners LLC. reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,239 shares of the financial services provider’s stock after selling 3,097 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Western Alliance Bancorporation were worth $400,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation during the 1st quarter worth $27,000. GAMMA Investing LLC increased its holdings in shares of Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $65,000. Parkside Financial Bank & Trust boosted its stake in Western Alliance Bancorporation by 49.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,402 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 462 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $93,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total transaction of $64,200.00. Following the sale, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at $361,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.5 %

WAL stock traded down $0.99 during midday trading on Friday, hitting $62.96. 988,723 shares of the company’s stock were exchanged, compared to its average volume of 793,126. Western Alliance Bancorporation has a 1-year low of $35.67 and a 1-year high of $70.23. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $6.93 billion, a PE ratio of 9.18, a P/E/G ratio of 1.21 and a beta of 1.46. The business has a 50-day simple moving average of $61.54 and a two-hundred day simple moving average of $61.39.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. During the same period last year, the company earned $2.30 EPS. On average, sell-side analysts predict that Western Alliance Bancorporation will post 7.4 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 2.35%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens reiterated an “overweight” rating and set a $82.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Royal Bank of Canada decreased their price objective on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Barclays dropped their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Hovde Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Monday, April 22nd. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.21.

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.