Western Alliance Bancorporation (NYSE:WAL) Trading Down 8.8% – What’s Next?

Shares of Western Alliance Bancorporation (NYSE:WAL) were down 8.8% during mid-day trading on Friday . The company traded as low as $81.75 and last traded at $82.1560. Approximately 675,878 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 1,079,512 shares. The stock had previously closed at $90.06.

Analyst Ratings Changes

Several equities analysts have recently commented on WAL shares. UBS Group set a $106.00 price objective on Western Alliance Bancorporation in a research report on Wednesday, February 4th. iA Financial set a $101.00 price target on Western Alliance Bancorporation in a report on Wednesday, January 28th. Barclays restated an “overweight” rating on shares of Western Alliance Bancorporation in a research note on Monday, February 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group boosted their target price on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $103.73.

Western Alliance Bancorporation Stock Performance

The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $89.32 and a 200 day moving average price of $85.40. The stock has a market cap of $8.84 billion, a P/E ratio of 9.22, a PEG ratio of 0.68 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. The company had revenue of $980.90 million during the quarter, compared to analysts’ expectations of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.Western Alliance Bancorporation’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a $0.42 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio is presently 19.24%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently added to or reduced their stakes in WAL. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $26,000. Quent Capital LLC bought a new position in Western Alliance Bancorporation in the third quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter worth $27,000. Root Financial Partners LLC bought a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $27,000. Finally, Clearstead Advisors LLC raised its position in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.