Western Alliance Bancorporation (NYSE:WAL) Given Neutral Rating at UBS Group

UBS Group reissued their neutral rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Tuesday morning, Marketbeat reports. The brokerage currently has a $75.00 price target on the financial services provider’s stock, down from their prior price target of $106.00.

A number of other research firms have also issued reports on WAL. Keefe, Bruyette & Woods increased their target price on Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. DA Davidson reduced their target price on Western Alliance Bancorporation from $105.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Jefferies Financial Group reissued an “overweight” rating and issued a $105.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. Barclays reduced their price target on shares of Western Alliance Bancorporation from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Finally, iA Financial set a $101.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.80.

Western Alliance Bancorporation Price Performance

WAL stock opened at $71.91 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Western Alliance Bancorporation has a one year low of $57.15 and a one year high of $97.23. The firm has a market capitalization of $7.90 billion, a PE ratio of 8.24, a P/E/G ratio of 0.63 and a beta of 1.37. The firm has a 50-day moving average of $80.70 and a two-hundred day moving average of $82.34.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results 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 $890.80 million during the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 earnings per share. On average, analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were paid a $0.42 dividend. The ex-dividend date was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Western Alliance Bancorporation’s payout ratio is 19.24%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors have recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $26,000. Quent Capital LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $27,000. Root Financial Partners LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $27,000. Finally, Clearstead Advisors LLC raised its holdings in Western Alliance Bancorporation by 144.6% during the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

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.