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

WAL has been the topic of a number of other reports. DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Barclays dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $79.89 on Monday. 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 firm’s 50-day moving average is $71.59 and its two-hundred day moving average is $82.22. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The company has a market capitalization of $8.82 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The company had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same period in the previous year, the firm earned $1.72 earnings per share. Analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund grew its holdings in shares of Western Alliance Bancorporation by 9.3% in the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock valued at $8,090,000 after purchasing an additional 8,201 shares in the last quarter. Norden Group LLC acquired a new position in Western Alliance Bancorporation during the 4th quarter worth approximately $727,000. Generate Investment Management Ltd grew its holdings in Western Alliance Bancorporation by 0.7% during the 4th quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider’s stock worth $34,842,000 after acquiring an additional 2,772 shares in the last quarter. HighTower Advisors LLC grew its holdings in Western Alliance Bancorporation by 8.5% during the 4th quarter. HighTower Advisors LLC now owns 16,750 shares of the financial services provider’s stock worth $1,399,000 after acquiring an additional 1,312 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Western Alliance Bancorporation by 973.1% during the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider’s stock worth $35,239,000 after acquiring an additional 382,513 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.