Western Alliance Bancorporation (NYSE:WAL) Sets New 52-Week Low - Time to Sell?

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $67.91 and last traded at $69.70, with a volume of 983712 shares trading hands. The stock had previously closed at $70.98.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research reports. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target 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, Barclays lowered their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company has a 50-day moving average of $72.53 and a 200 day moving average of $82.52. The company has a market cap of $7.89 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.

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

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.13%. Western Alliance Bancorporation's payout ratio is 20.85%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in shares of Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock worth $27,970,000 after purchasing an additional 45,764 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock worth $8,090,000 after acquiring an additional 8,201 shares during the period. Norden Group LLC bought a new stake in Western Alliance Bancorporation during the 4th quarter valued at $727,000. Generate Investment Management Ltd raised its holdings in shares of Western Alliance Bancorporation by 0.7% in the fourth quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider's stock valued at $34,842,000 after acquiring an additional 2,772 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in Western Alliance Bancorporation by 8.5% in the fourth quarter. HighTower Advisors LLC now owns 16,750 shares of the financial services provider's stock worth $1,399,000 after acquiring an additional 1,312 shares during the period. Hedge funds and other 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.