Western Alliance Bancorporation (NYSE:WAL) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Western Alliance Bancorporation (NYSE:WAL) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $80.89 and traded as high as $84.51. Western Alliance Bancorporation shares last traded at $83.54, with a volume of 463,806 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial decreased their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. Wedbush boosted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Barclays increased their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Stephens restated an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Western Alliance Bancorporation Stock Up 0.8 %

The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $88.67 and a 200 day simple moving average of $80.90. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.41 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The business had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. As a group, analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $33,000. UMB Bank n.a. lifted its stake in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. boosted its holdings in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds 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.