Western Alliance Bancorporation (NYSE:WAL) Stock Rating Lowered by StockNews.com

Western Alliance Bancorporation (NYSE:WAL) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

WAL has been the topic of a number of other research reports. Stephens restated an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Truist Financial dropped their price objective on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. DA Davidson dropped their price target on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $74.71.

Western Alliance Bancorporation Stock Up 3.1 %

Shares of NYSE WAL opened at $62.82 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. Western Alliance Bancorporation has a 52-week low of $35.67 and a 52-week high of $70.23. The firm has a 50 day moving average price of $61.09 and a 200 day moving average price of $61.38. The stock has a market cap of $6.92 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.18 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same quarter in the prior year, the firm earned $2.30 earnings per share. Analysts expect that Western Alliance Bancorporation will post 7.42 EPS for the current year.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total transaction of $64,200.00. Following the completion of the transaction, the chief accounting officer now owns 5,636 shares in the company, valued at $361,831.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at about $12,387,000. Smead Capital Management Inc. bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $77,957,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth about $917,000. Strs Ohio grew its stake in shares of Western Alliance Bancorporation by 35.3% in the 4th quarter. Strs Ohio now owns 86,600 shares of the financial services provider’s stock worth $5,697,000 after buying an additional 22,600 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Western Alliance Bancorporation by 166.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 32,349 shares of the financial services provider’s stock valued at $2,128,000 after buying an additional 20,198 shares during the last quarter. Hedge funds and other 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.