Western Alliance Bancorporation (NYSE:WAL) Raised 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 published on Saturday morning.

WAL has been the topic of several other research reports. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an "outperform" rating in a research note on Friday, October 18th. Piper Sandler boosted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Stephens restated an "overweight" rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.07.

Western Alliance Bancorporation Trading Up 2.1 %

Shares of Western Alliance Bancorporation stock traded up $1.84 during trading on Friday, hitting $89.44. 599,847 shares of the company were exchanged, compared to its average volume of 1,213,205. The firm has a market capitalization of $9.84 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The firm's fifty day moving average price is $87.24 and its 200 day moving average price is $85.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 8.99 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation's payout ratio is presently 21.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of Western Alliance Bancorporation by 3.8% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of 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 during the period. Fifth Third Bancorp increased its stake 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 valued at $28,000 after buying an additional 136 shares during the period. Versant Capital Management Inc increased its stake in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock valued at $111,000 after buying an additional 157 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Western Alliance Bancorporation by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 163 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

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.