StockNews.com Lowers Western Alliance Bancorporation (NYSE:WAL) to Sell

StockNews.com lowered shares of Western Alliance Bancorporation (NYSE:WAL) from a hold rating to a sell rating in a report issued on Tuesday.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Western Alliance Bancorporation from $80.00 to $100.00 and gave the company an overweight rating in a research report on Tuesday, July 23rd. Stephens reaffirmed an overweight rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. Keefe, Bruyette & Woods lowered their price target on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an outperform rating for the company in a research report on Monday, April 22nd. Hovde Group began coverage on shares of Western Alliance Bancorporation in a research note on Monday, April 22nd. They set an outperform rating and a $75.00 price objective on the stock. Finally, Bank of America raised their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a buy rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $84.27.

Western Alliance Bancorporation Trading Up 3.2 %

NYSE:WAL opened at $77.04 on Tuesday. The company has a 50-day moving average price of $68.23 and a 200-day moving average price of $63.20. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.41 and a beta of 1.45. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $82.48.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The company had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. During the same period in the prior year, the firm earned $1.96 earnings per share. Western Alliance Bancorporation’s revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Western Alliance Bancorporation will post 7.36 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Insider Transactions at Western Alliance Bancorporation

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction of $160,710.20. Following the transaction, the chief accounting officer now owns 3,520 shares in the company, valued at $267,344. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. The disclosure for this sale can be found here. Insiders sold 8,186 shares of company stock worth $612,410 over the last three months. 2.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Western Alliance Bancorporation in the first quarter worth approximately $27,000. GAMMA Investing LLC raised its stake in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the period. ORG Partners LLC purchased a new position in Western Alliance Bancorporation during the second quarter valued at approximately $36,000. Chilton Capital Management LLC bought a new position in shares of Western Alliance Bancorporation in the second quarter worth approximately $54,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $65,000. Hedge funds and other institutional investors 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.