Western Alliance Bancorporation (NYSE:WAL) Receives “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $102.00 price objective on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their target price on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Bank of America raised their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Truist Financial lifted their price target on Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Wedbush boosted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $91.73.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $80.49 on Friday. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $94.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market cap of $8.86 billion, a PE ratio of 12.42, a P/E/G ratio of 1.30 and a beta of 1.44. The business has a 50-day simple moving average of $82.73 and a two-hundred day simple moving average of $70.79.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. Western Alliance Bancorporation’s dividend payout ratio is presently 22.84%.

Insider Buying and Selling

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,149 shares of company stock valued at $1,539,681 in the last three months. 2.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after acquiring an additional 395,101 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Western Alliance Bancorporation by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after purchasing an additional 717,242 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after purchasing an additional 636,577 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Western Alliance Bancorporation by 0.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after buying an additional 20,876 shares during the last quarter. Finally, Hood River Capital Management LLC grew its holdings in Western Alliance Bancorporation by 5.9% in the 1st quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider’s stock valued at $105,378,000 after buying an additional 91,535 shares during the period. 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.