Sippican Capital Advisors Has $781,000 Holdings in Western Alliance Bancorporation $WAL

Sippican Capital Advisors lessened its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 47.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,020 shares of the financial services provider’s stock after selling 9,995 shares during the period. Sippican Capital Advisors’ holdings in Western Alliance Bancorporation were worth $781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WAL. Pictet Asset Management Holding SA lifted its holdings in shares of Western Alliance Bancorporation by 7.3% in the first quarter. Pictet Asset Management Holding SA now owns 17,304 shares of the financial services provider’s stock valued at $1,226,000 after purchasing an additional 1,172 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Western Alliance Bancorporation during the first quarter worth about $2,111,000. Fifth Third Wealth Advisors LLC grew its holdings in shares of Western Alliance Bancorporation by 4.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock worth $237,000 after buying an additional 134 shares in the last quarter. SG Americas Securities LLC raised its position in Western Alliance Bancorporation by 278.5% in the 1st quarter. SG Americas Securities LLC now owns 53,451 shares of the financial services provider’s stock valued at $3,787,000 after buying an additional 39,328 shares during the last quarter. Finally, Brady Martz Wealth Solutions LLC raised its position in Western Alliance Bancorporation by 65.6% in the 1st quarter. Brady Martz Wealth Solutions LLC now owns 6,991 shares of the financial services provider’s stock valued at $495,000 after buying an additional 2,770 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. The trade was a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WAL. Keefe, Bruyette & Woods upped their price target on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Wells Fargo & Company raised shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $83.00 to $79.00 in a research report on Monday, March 9th. Citigroup increased their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler decreased their target price on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.07.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $82.67 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86. The stock has a 50 day moving average price of $79.64 and a 200 day moving average price of $81.78. The stock has a market capitalization of $9.03 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The firm had revenue of $968.40 million for the quarter, compared to analyst estimates of $944.18 million. During the same quarter in the previous year, the firm earned $1.79 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. Analysts predict that Western Alliance Bancorporation will post 9.81 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.56%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.