Western Alliance Bancorporation (NYSE:WAL) Downgraded by StockNews.com to Sell

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Monday.

Several other equities research analysts also recently issued reports on WAL. JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Truist Financial decreased their price objective on shares of 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. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a "buy" rating and a $115.00 price objective for the company. Barclays boosted 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 note on Friday, November 8th. Finally, Stephens reiterated an "overweight" rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus price target of $98.07.

Western Alliance Bancorporation Trading Down 3.3 %

WAL stock traded down $3.08 on Monday, hitting $89.92. 1,440,527 shares of the company were exchanged, compared to its average volume of 1,187,440. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business's fifty day moving average is $86.86 and its two-hundred day moving average is $85.56. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS 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, research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Forum Financial Management LP raised its holdings in shares of Western Alliance Bancorporation by 22.0% during the fourth quarter. Forum Financial Management LP now owns 3,605 shares of the financial services provider's stock worth $301,000 after purchasing an additional 650 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Western Alliance Bancorporation by 2.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 63,161 shares of the financial services provider's stock worth $5,276,000 after purchasing an additional 1,247 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after purchasing an additional 648,983 shares during the period. MidWestOne Financial Group Inc. increased its holdings in shares of Western Alliance Bancorporation by 0.6% in the 4th quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock worth $2,226,000 after acquiring an additional 160 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Western Alliance Bancorporation by 7.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 312,253 shares of the financial services provider's stock worth $26,086,000 after acquiring an additional 21,079 shares during the period. 79.15% of the stock is 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.