Western Alliance Bancorporation (NYSE:WAL) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Western Alliance Bancorporation (NYSE:WAL) from a sell rating to a hold rating in a research report report published on Tuesday.

Several other research firms also recently commented on WAL. Barclays boosted their target price 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. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. DA Davidson decreased their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler boosted their target price 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. Finally, UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price for the company. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Stock Down 0.8 %

WAL stock opened at $85.35 on Tuesday. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The firm’s 50-day moving average is $86.64 and its two-hundred day moving average is $86.03. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

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

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 1.78%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its holdings 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 during the last quarter. Fifth Third Bancorp increased its holdings in 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 during the last quarter. Allworth Financial LP increased its holdings in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after buying an additional 215 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Western Alliance Bancorporation by 58.4% in 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 during the last quarter. 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.