Western Alliance Bancorporation (NYSE:WAL) Downgraded by StockNews.com to "Sell"

StockNews.com cut shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) from a hold rating to a sell rating in a research note released on Monday.

WAL has been the subject of a number of other reports. Royal Bank of Canada decreased their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Barclays decreased their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.38.

Western Alliance Bancorporation Stock Down 0.1%

WAL stock traded down $0.05 during midday trading on Monday, reaching $78.31. 773,877 shares of the company were exchanged, compared to its average volume of 1,220,148. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The stock's 50-day simple moving average is $71.75 and its 200 day simple moving average is $82.16.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $792.25 million. During the same period last year, the business earned $1.72 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation's payout ratio is 20.85%.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently modified their holdings of WAL. Ashton Thomas Private Wealth LLC raised its position in Western Alliance Bancorporation by 3.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after acquiring an additional 114 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp raised its holdings in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the last quarter. National Bank of Canada FI boosted its position in Western Alliance Bancorporation by 22.7% during the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after purchasing an additional 141 shares in the last quarter. Finally, MidWestOne Financial Group Inc. increased its position in shares of 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 valued at $2,226,000 after buying an additional 160 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

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.