Western Alliance Bancorporation (NYSE:WAL) Cut to “Sell” at StockNews.com

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

A number of other brokerages have also commented on WAL. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. DA Davidson lowered their target price on 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. Wells Fargo & Company lowered their target price on 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. Piper Sandler lifted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Truist Financial lowered their target price on 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Stock Up 1.3 %

NYSE WAL opened at $93.10 on Monday. The stock has a fifty day moving average of $86.82 and a 200-day moving average of $85.51. The stock has a market capitalization of $10.25 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.62 and a beta of 1.46. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its holdings in shares of 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 holdings in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the third quarter valued at $31,000. Finally, Allworth Financial LP increased its holdings in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

About Western Alliance Bancorporation

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.