Western Alliance Bancorporation (NYSE:WAL) Shares Down 9.2%

Western Alliance Bancorporation (NYSE:WAL – Get Rating)’s stock price was down 9.2% during trading on Thursday . The company traded as low as $27.05 and last traded at $29.37. Approximately 5,769,935 shares traded hands during trading, an increase of 35% from the average daily volume of 4,280,418 shares. The stock had previously closed at $32.35.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WAL shares. StockNews.com started coverage on shares of Western Alliance Bancorporation in a report on Thursday. They set a “hold” rating on the stock. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Western Alliance Bancorporation in a report on Monday, March 13th. Stephens increased their price target on shares of Western Alliance Bancorporation from $80.00 to $86.00 in a report on Thursday, January 26th. JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $89.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. Finally, TheStreet upgraded shares of Western Alliance Bancorporation from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.89.

Western Alliance Bancorporation Stock Down 15.1 %

The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 1.42. The company’s fifty day moving average is $67.27 and its 200-day moving average is $66.81. The company has a market cap of $3.43 billion, a PE ratio of 3.23, a PEG ratio of 0.28 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. Western Alliance Bancorporation had a net margin of 34.94% and a return on equity of 22.00%. The business had revenue of $701.20 million for the quarter, compared to the consensus estimate of $733.13 million. During the same period last year, the firm earned $2.32 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts predict that Western Alliance Bancorporation will post 10.34 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $1.44 annualized dividend and a yield of 4.60%. Western Alliance Bancorporation’s payout ratio is presently 14.85%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, Director Marianne Boyd Johnson purchased 2,475 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $25.79 per share, for a total transaction of $63,830.25. Following the completion of the transaction, the director now owns 2,475 shares of the company’s stock, valued at $63,830.25. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Marianne Boyd Johnson acquired 2,475 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $25.79 per share, for a total transaction of $63,830.25. Following the transaction, the director now directly owns 2,475 shares of the company’s stock, valued at $63,830.25. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Tim R. Bruckner sold 1,750 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.16, for a total transaction of $128,030.00. Following the sale, the insider now owns 20,244 shares in the company, valued at $1,481,051.04. The disclosure for this sale can be found here. Insiders own 2.57% of the company’s stock.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors and hedge funds have recently modified their holdings of the company. Ronald Blue Trust Inc. bought a new stake in Western Alliance Bancorporation in the 2nd quarter valued at $27,000. Benjamin Edwards Inc. bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $26,000. CoreCap Advisors LLC bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $38,000. IFP Advisors Inc increased its holdings in Western Alliance Bancorporation by 106.4% in the 3rd quarter. IFP Advisors Inc now owns 646 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 333 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $40,000. 84.68% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.