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 research note issued to investors on Saturday.

A number of other equities analysts also recently weighed in on the company. 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 report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Barclays upped their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $87.56 on Friday. The business’s 50 day moving average price is $87.36 and its two-hundred day moving average price is $85.03. The company has a market cap of $9.64 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. 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 has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, analysts predict that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.74%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 56.0% during 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 grew its position in shares of Western Alliance Bancorporation by 70.1% during the 4th 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 in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at $31,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at $33,000. 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.