Western Alliance Bancorporation (NYSE:WAL) Shares Down 6.2% - Should You Sell?

Western Alliance Bancorporation (NYSE:WAL - Get Free Report)'s share price was down 6.2% during trading on Tuesday . The company traded as low as $89.06 and last traded at $88.19. Approximately 265,000 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,220,398 shares. The stock had previously closed at $94.00.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an "outperform" rating in a research report on Friday, October 18th. UBS Group began coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price objective on the stock. Truist Financial reduced 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 report on Monday, October 21st. Finally, Barclays upped their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.38.

Western Alliance Bancorporation Price Performance

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 fifty day moving average is $88.13 and its 200 day moving average is $84.11. The company has a market cap of $9.82 billion, a P/E ratio of 13.77, a PEG ratio of 0.88 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, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation's payout ratio is currently 23.46%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of large investors have recently made changes to their positions in WAL. Fifth Third Bancorp increased its holdings in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc grew its position in Western Alliance Bancorporation by 13.4% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock worth $111,000 after buying an additional 157 shares in the last quarter. Pacer Advisors Inc. increased its stake in Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock worth $1,359,000 after acquiring an additional 163 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 187 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 249 shares during 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.