Western Alliance Bancorporation (NYSE:WAL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have been given an average rating of “Moderate Buy” by the fifteen research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $93.40.

A number of research firms have recently issued reports on WAL. JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wedbush raised their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Stephens reiterated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wells Fargo & Company raised their target price on Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Truist Financial cut their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WAL. State Street Corp boosted its holdings in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. FMR LLC grew its position in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares during the last quarter. LHM Inc. lifted its position in Western Alliance Bancorporation by 2,141.1% in the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after acquiring an additional 723,995 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Western Alliance Bancorporation by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after purchasing an additional 636,577 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after purchasing an additional 506,778 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 0.7 %

WAL stock opened at $89.73 on Monday. The firm has a market cap of $9.88 billion, a PE ratio of 13.85, a PEG ratio of 1.43 and a beta of 1.45. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. 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 firm’s 50 day moving average price is $89.09 and its 200-day moving average price is $78.51.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.69%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s payout ratio is 23.46%.

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.