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

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

WAL has been the topic of a number of other research reports. Piper Sandler boosted 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 report on Monday, February 3rd. Barclays raised their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. DA Davidson lowered their price target on 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. Truist Financial lowered their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $87.56 on Friday. 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. The company has a market capitalization of $9.64 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.64 and a beta of 1.46. The company has a fifty day moving average of $87.36 and a 200-day moving average of $85.03.

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 for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, equities research analysts predict that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.74%. Western Alliance Bancorporation’s payout ratio is 21.41%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of large investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Western Alliance Bancorporation by 46.2% during the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after purchasing an additional 1,418,472 shares during the period. FMR LLC grew its stake in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after purchasing an additional 1,347,921 shares during the period. Janus Henderson Group PLC grew its stake in shares of Western Alliance Bancorporation by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock valued at $164,019,000 after purchasing an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Western Alliance Bancorporation by 4.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock valued at $157,369,000 after purchasing an additional 81,238 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Western Alliance Bancorporation by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock valued at $162,701,000 after purchasing an additional 120,729 shares during the period. 79.15% of the stock is currently owned by 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.