Western Alliance Bancorporation (NYSE:WAL) Given "Overweight" Rating at Stephens

Stephens restated their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in a research note released on Tuesday,Benzinga reports. Stephens currently has a $92.00 price objective on the financial services provider's stock.

A number of other research firms also recently commented on WAL. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler boosted their target price 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 decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, DA Davidson decreased their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Performance

Shares of WAL traded down $1.05 during midday trading on Tuesday, reaching $69.75. 810,046 shares of the stock were exchanged, compared to its average volume of 1,219,557. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock's 50 day simple moving average is $74.54 and its 200 day simple moving average is $83.32. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The company has a market cap of $7.70 billion, a P/E ratio of 9.82, a PEG ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The firm had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. During the same quarter in the previous year, the firm posted $1.72 EPS. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System grew its holdings in Western Alliance Bancorporation by 24.9% during the 1st quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider's stock worth $1,950,000 after acquiring an additional 5,056 shares during the period. KBC Group NV increased its holdings in Western Alliance Bancorporation by 12.5% in the first quarter. KBC Group NV now owns 4,940 shares of the financial services provider's stock worth $380,000 after purchasing an additional 547 shares in the last quarter. Lisanti Capital Growth LLC lifted its stake in Western Alliance Bancorporation by 136.7% in the first quarter. Lisanti Capital Growth LLC now owns 48,375 shares of the financial services provider's stock valued at $3,717,000 after buying an additional 27,940 shares during the period. Tsfg LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $33,000. Finally, Salzhauer Michael grew its position in shares of Western Alliance Bancorporation by 21.2% during the 1st quarter. Salzhauer Michael now owns 21,690 shares of the financial services provider's stock worth $1,666,000 after buying an additional 3,795 shares during the period. Institutional investors own 79.15% of the company's stock.

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.