Western Alliance Bancorporation (NYSE:WAL) Cut 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 research report issued on Monday.

WAL has been the topic of a number of other reports. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target on the stock. DA Davidson decreased their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Barclays increased their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Up 1.5 %

NYSE:WAL traded up $1.29 during mid-day trading on Monday, reaching $88.64. The stock had a trading volume of 651,891 shares, compared to its average volume of 1,273,617. 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 market capitalization of $9.76 billion, a price-to-earnings 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 stock’s 50 day simple moving average is $86.85 and its two-hundred day simple moving average is $85.29.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors have recently modified their holdings of WAL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Western Alliance Bancorporation by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 312,253 shares of the financial services provider’s stock valued at $26,086,000 after acquiring an additional 21,079 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Western Alliance Bancorporation by 4,675.5% in the 4th quarter. Tidal Investments LLC now owns 207,495 shares of the financial services provider’s stock worth $17,334,000 after acquiring an additional 203,150 shares during the last quarter. Thornburg Investment Management Inc. raised its position in shares of Western Alliance Bancorporation by 0.5% during the fourth quarter. Thornburg Investment Management Inc. now owns 180,474 shares of the financial services provider’s stock worth $15,077,000 after purchasing an additional 977 shares during the period. Royal Bank of Canada lifted its holdings in shares of Western Alliance Bancorporation by 6.4% during the fourth quarter. Royal Bank of Canada now owns 196,012 shares of the financial services provider’s stock valued at $16,375,000 after purchasing an additional 11,802 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Western Alliance Bancorporation by 34.3% during the fourth quarter. Rafferty Asset Management LLC now owns 252,005 shares of the financial services provider’s stock valued at $21,052,000 after buying an additional 64,393 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.