Western Alliance Bancorporation (NYSE:WAL) Lowered to “Sell” Rating by StockNews.com

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

Several other equities research analysts have also recently weighed in on the stock. DA Davidson lowered their price target on shares of 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. Stephens reaffirmed an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group initiated 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 for the company. Finally, Truist Financial lowered their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $91.56 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 company has a market capitalization of $10.08 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.64 and a beta of 1.46. The company’s 50-day simple moving average is $86.79 and its two-hundred day simple moving average is $85.38. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama purchased a new position in shares of Western Alliance Bancorporation in the third quarter worth $11,461,000. Franklin Resources Inc. raised its holdings in shares of Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after buying an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter worth $5,099,000. BNP Paribas Financial Markets raised its holdings in shares of Western Alliance Bancorporation by 1,091.8% in the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after buying an additional 31,214 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter worth $3,612,000. 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.