Western Alliance Bancorporation (NYSE:WAL) Rating Lowered to “Sell” at StockNews.com

Western Alliance Bancorporation (NYSE:WAL) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other equities research analysts also recently weighed in on the company. Truist Financial cut their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Barclays lifted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Wells Fargo & Company dropped 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. Finally, Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Up 1.5 %

NYSE:WAL traded up $1.29 on Monday, hitting $88.64. 651,891 shares of the company’s stock traded hands, compared to its average volume of 1,273,617. The company has a market cap of $9.76 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $86.85 and a 200-day moving average price of $85.29.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities analysts anticipate that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC increased its stake in Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC grew its holdings 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 worth $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Western Alliance Bancorporation by 70.1% during 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. Versant Capital Management Inc raised its stake in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 157 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Western Alliance Bancorporation by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 163 shares during the period. 79.15% of the stock is owned by institutional investors.

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.