Western Alliance Bancorporation (NYSE:WAL) Raised to “Hold” at StockNews.com

Western Alliance Bancorporation (NYSE:WAL) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts also recently commented on the stock. DA Davidson decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Performance

WAL stock traded down $0.66 during trading hours on Tuesday, reaching $85.35. The stock had a trading volume of 1,502,204 shares, compared to its average volume of 1,216,485. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $9.39 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The stock has a 50-day simple moving average of $86.64 and a 200 day simple moving average of $86.03.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently added to or reduced their stakes in WAL. SBI Securities Co. Ltd. bought a new position in shares of Western Alliance Bancorporation in the fourth quarter worth $26,000. Smartleaf Asset Management LLC grew its position in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp increased its stake in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Western Alliance Bancorporation by 58.4% during 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 in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.