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

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Wells Fargo & Company cut their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Truist Financial cut their price objective 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.07.

Western Alliance Bancorporation Stock Down 1.0 %

The company has a market cap of $9.71 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock’s fifty day moving average is $88.13 and its two-hundred day moving average is $84.26.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share 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%. Sell-side analysts predict that Western Alliance Bancorporation will post 7.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WAL. Legato Capital Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 11.5% during the 4th quarter. Legato Capital Management LLC now owns 23,817 shares of the financial services provider’s stock worth $1,990,000 after acquiring an additional 2,465 shares during the last quarter. Compound Global Advisors LLC purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at about $1,116,000. Vaughan Nelson Investment Management L.P. lifted its stake in Western Alliance Bancorporation by 4.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after purchasing an additional 81,238 shares during the last quarter. Generate Investment Management Ltd boosted its holdings in shares of Western Alliance Bancorporation by 0.7% in the 4th quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider’s stock worth $34,842,000 after purchasing an additional 2,772 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $1,159,000. 79.15% of the stock is owned by institutional investors.

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.