Brokerages Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $92.73

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $92.73.

A number of equities analysts recently commented on WAL shares. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Piper Sandler decreased their price target on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th.

Western Alliance Bancorporation Trading Down 0.0 %

Shares of NYSE WAL opened at $89.12 on Thursday. Western Alliance Bancorporation has a twelve month low of $47.60 and a twelve month high of $96.45. 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 business has a fifty day simple moving average of $86.31 and a two-hundred day simple moving average of $75.18. The firm has a market cap of $9.81 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction 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 transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This represents a 42.48 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation in the first quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter valued at about $33,000. ORG Partners LLC purchased a new position in Western Alliance Bancorporation during the 2nd quarter valued at about $36,000. Finally, UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. 79.15% of the stock is currently 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.