JPMorgan Chase & Co. Issues Pessimistic Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $110.00 to $105.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider's stock.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and lifted their price target for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an "outperform" rating in a research report on Friday, October 18th. Wedbush raised their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 24th. Wells Fargo & Company decreased their price target 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. Finally, Barclays raised 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. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $94.31.

Western Alliance Bancorporation Stock Down 2.4 %

Shares of Western Alliance Bancorporation stock traded down $1.98 during trading on Tuesday, reaching $81.70. The stock had a trading volume of 1,404,439 shares, compared to its average volume of 1,064,360. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.41 and a beta of 1.46. The stock has a fifty day moving average price of $88.69 and a two-hundred day moving average price of $81.54. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The firm had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Sell-side analysts predict that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio is 23.46%.

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAL. Versant Capital Management Inc raised its holdings in shares of Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock worth $111,000 after acquiring an additional 157 shares during the last quarter. Blue Trust Inc. raised its stake 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 worth $44,000 after purchasing an additional 187 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 249 shares in the last quarter. Signaturefd LLC boosted its position in shares of Western Alliance Bancorporation by 18.7% during the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider's stock valued at $138,000 after buying an additional 252 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in Western Alliance Bancorporation by 5.7% during the third quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider's stock worth $429,000 after buying an additional 276 shares in the last quarter. 79.15% of the stock is 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.