Western Alliance Bancorporation (NYSE:WAL) Stock Rating Lowered by StockNews.com

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

A number of other equities analysts also recently commented on WAL. Wedbush restated an outperform rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a research note on Wednesday, May 8th. Truist Financial lowered their price objective on Western Alliance Bancorporation from $80.00 to $75.00 and set a buy rating for the company in a research note on Monday, April 22nd. Stephens reiterated an overweight rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a buy rating for the company in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an outperform rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $74.71.

Western Alliance Bancorporation Trading Up 2.5 %

NYSE:WAL opened at $64.17 on Friday. The company has a market cap of $7.07 billion, a PE ratio of 9.35, a P/E/G ratio of 1.19 and a beta of 1.46. The business’s 50 day moving average is $61.17 and its two-hundred day moving average is $61.35. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. Western Alliance Bancorporation has a 52 week low of $35.67 and a 52 week high of $70.23.

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

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Insider Transactions 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 stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the transaction, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at approximately $361,831.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.75% of the stock is currently owned by insiders.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors have recently bought and sold shares of WAL. Russell Investments Group Ltd. lifted its stake in shares of Western Alliance Bancorporation by 0.6% in the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 164 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares in the last quarter. Riverwater Partners LLC increased its holdings in shares of Western Alliance Bancorporation by 0.7% during the 4th quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock valued at $1,920,000 after acquiring an additional 211 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Western Alliance Bancorporation by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock valued at $2,182,000 after acquiring an additional 240 shares in the last quarter. Finally, Madison Asset Management LLC lifted its holdings in Western Alliance Bancorporation by 0.4% in the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock worth $4,959,000 after purchasing an additional 297 shares during the last quarter. 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.