Western Alliance Bancorporation (NYSE:WAL) Receives $94.75 Average PT from Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $94.31.

WAL has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. Piper Sandler reduced their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Barclays upped their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Truist Financial reduced their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at approximately $33,000. UMB Bank n.a. boosted its position in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. increased its stake in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd raised its position in Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Trading Down 1.2 %

Shares of NYSE:WAL opened at $80.63 on Friday. The company’s 50-day moving average price is $88.52 and its two-hundred day moving average price is $81.69. 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 current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $8.87 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last issued 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 company had revenue of $833.10 million for 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 analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) 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.