Western Alliance Bancorporation (NYSE:WAL) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Western Alliance Bancorporation (NYSE:WAL) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Wedbush reiterated an outperform rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, May 8th. DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a buy rating for the company in a report on Monday, April 22nd. Stephens restated an overweight rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday, April 19th. Jefferies Financial Group cut their price target on Western Alliance Bancorporation from $80.00 to $70.00 and set a buy rating for the company in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on Western Alliance Bancorporation from $79.00 to $74.00 and set an outperform rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $74.71.

Western Alliance Bancorporation Trading Up 3.1 %

WAL opened at $62.82 on Friday. The company has a fifty day moving average price of $61.09 and a two-hundred day moving average price of $61.37. Western Alliance Bancorporation has a 1-year low of $35.67 and a 1-year high of $70.23. The company has a market cap of $6.92 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.21.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. During the same period in the previous year, the company posted $2.30 EPS. Analysts predict that Western Alliance Bancorporation will post 7.42 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total value of $64,200.00. Following the sale, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at $361,831.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.75% of the stock is owned by company insiders.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently made changes to their positions in WAL. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter worth $27,000. GAMMA Investing LLC boosted its position in Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares during the period. Rakuten Securities Inc. purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter worth about $65,000. Parkside Financial Bank & Trust raised its position in shares of Western Alliance Bancorporation by 49.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,402 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 462 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at approximately $93,000. 79.15% of the stock is currently owned by 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.