StockNews.com Upgrades Western Alliance Bancorporation (NYSE:WAL) to “Hold”

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

Other equities research analysts also recently issued reports about the stock. Piper Sandler increased 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 report on Monday, February 3rd. Barclays upped their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group started 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Trading Down 0.1 %

WAL opened at $86.15 on Tuesday. The business has a fifty day moving average price of $86.76 and a 200 day moving average price of $86.03. 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 has a 12 month low of $53.75 and a 12 month high of $98.10. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.63 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data 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 return on equity of 13.14% and a net margin of 15.49%. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.76%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP increased its position in Western Alliance Bancorporation by 22.0% during the 4th 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 boosted its stake in shares of Western Alliance Bancorporation by 2.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 63,161 shares of the financial services provider’s stock valued at $5,276,000 after buying an additional 1,247 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in 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 acquiring an additional 648,983 shares during the period. MidWestOne Financial Group Inc. raised its position in Western Alliance Bancorporation by 0.6% in the fourth 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Western Alliance Bancorporation by 7.2% in the fourth 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 valued at $26,086,000 after acquiring an additional 21,079 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

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.