Western Alliance Bancorporation (NYSE:WAL) Shares Down 6.2% – What’s Next?

Western Alliance Bancorporation (NYSE:WAL)’s stock price traded down 6.2% during trading on Tuesday . The company traded as low as $89.06 and last traded at $88.19. 265,000 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,220,398 shares. The stock had previously closed at $94.00.

Analyst Ratings Changes

Several equities analysts have issued reports on WAL shares. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price on the stock. Piper Sandler dropped their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday. Finally, Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.38.

Western Alliance Bancorporation Stock Down 4.0 %

The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.88 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $88.13 and a two-hundred day moving average of $84.11.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, analysts predict that Western Alliance Bancorporation will post 7.11 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently added to or reduced their stakes in the company. Generate Investment Management Ltd increased its position in shares of Western Alliance Bancorporation by 0.7% during the fourth 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 during the last quarter. Silver Oak Securities Incorporated acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $1,159,000. Meritage Portfolio Management grew its position in shares of Western Alliance Bancorporation by 12.2% during the fourth quarter. Meritage Portfolio Management now owns 8,645 shares of the financial services provider’s stock worth $722,000 after buying an additional 943 shares in the last quarter. Choreo LLC grew its holdings in Western Alliance Bancorporation by 32.1% during the 4th quarter. Choreo LLC now owns 13,426 shares of the financial services provider’s stock worth $1,122,000 after acquiring an additional 3,265 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT bought a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $659,000. 79.15% of the stock is owned by institutional investors and hedge funds.

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.