Western Alliance Bancorporation (NYSE:WAL) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Western Alliance Bancorporation (NYSE:WAL) from a hold rating to a sell rating in a report released on Monday.

A number of other equities analysts have also recently issued reports on WAL. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $93.10 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $86.82 and a two-hundred day moving average price of $85.51. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a market cap of $10.25 billion, a P/E ratio of 13.11, a PEG ratio of 0.62 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $11,461,000. Franklin Resources Inc. lifted its position in shares of Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after buying an additional 45,764 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $5,099,000. BNP Paribas Financial Markets increased its stake in shares of Western Alliance Bancorporation by 1,091.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after purchasing an additional 31,214 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $3,612,000. Institutional investors own 79.15% of the company’s stock.

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.