Western Alliance Bancorporation (NYSE:WAL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Other equities analysts also recently issued research reports about the stock. Piper Sandler upped 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 note on Monday, February 3rd. Barclays upped their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price objective for the company. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.07.

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Western Alliance Bancorporation Stock Up 1.0 %

Shares of WAL stock traded up $0.84 on Tuesday, reaching $87.00. 1,044,735 shares of the stock were exchanged, compared to its average volume of 1,204,451. 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 business's 50 day moving average price is $86.80 and its 200 day moving average price is $86.13. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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%. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.75%. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares in the last quarter. Allworth Financial LP increased its stake in shares of Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $44,000 after purchasing an additional 187 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.