Western Alliance Bancorporation (NYSE:WAL) Raised to “Hold” at StockNews.com

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

Several other research analysts have also recently weighed in on WAL. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of 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. UBS Group started coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target for the company. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, DA Davidson cut their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Down 0.8 %

Shares of WAL traded down $0.66 on Tuesday, reaching $85.35. The stock had a trading volume of 1,502,204 shares, compared to its average volume of 1,216,485. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a 50-day simple moving average of $86.64 and a 200-day simple moving average of $86.03. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

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 for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC boosted its holdings in shares of 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 valued at $260,000 after purchasing an additional 114 shares during the period. Smartleaf Asset Management LLC grew its stake in Western Alliance Bancorporation by 56.0% in the fourth 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 holdings 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 worth $28,000 after purchasing an additional 136 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Western Alliance Bancorporation by 13.4% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after buying an additional 157 shares during the last quarter. Finally, MidWestOne Financial Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 0.6% in the 4th 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 currently owned by hedge funds and other 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.