Western Alliance Bancorporation (NYSE:WAL) Upgraded at StockNews.com

StockNews.com upgraded shares of Western Alliance Bancorporation (NYSE:WAL) from a sell rating to a hold rating in a report issued on Tuesday.

A number of other brokerages have also weighed in on WAL. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. DA Davidson dropped their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Barclays increased their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $86.15 on Tuesday. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.63 and a beta of 1.46. The business’s fifty day simple moving average is $86.76 and its two-hundred day simple moving average is $86.03. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.76%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WAL. SBI Securities Co. Ltd. purchased a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its holdings 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 during the last quarter. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the period. Allworth Financial LP lifted its stake in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds 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.