Western Alliance Bancorporation (NYSE:WAL) Given Consensus Rating of “Moderate Buy” by Analysts

Western Alliance Bancorporation (NYSE:WALGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $60.56.

Several research firms have issued reports on WAL. Truist Financial upped their price objective on Western Alliance Bancorporation from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Royal Bank of Canada upped their price objective on Western Alliance Bancorporation from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Piper Sandler reduced their price objective on Western Alliance Bancorporation from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Monday, October 23rd. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, Citigroup upped their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, January 29th.

Read Our Latest Analysis on WAL

Insiders Place Their Bets

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 5,370 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $56.07, for a total transaction of $301,095.90. Following the completion of the transaction, the director now owns 2,996 shares in the company, valued at approximately $167,985.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of large investors have recently added to or reduced their stakes in WAL. Harbour Investments Inc. boosted its stake in shares of Western Alliance Bancorporation by 400.7% during the 1st quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock worth $25,000 after buying an additional 557 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter worth about $64,000. Lazard Asset Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth about $28,000. State of Wyoming boosted its stake in shares of Western Alliance Bancorporation by 54.7% during the 2nd quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Western Alliance Bancorporation by 436.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 800 shares of the financial services provider’s stock worth $66,000 after buying an additional 651 shares during the last quarter. Institutional investors own 72.04% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $62.81 on Tuesday. Western Alliance Bancorporation has a fifty-two week low of $7.46 and a fifty-two week high of $76.90. The stock’s 50-day moving average is $62.81 and its two-hundred day moving average is $52.89. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.00 and a quick ratio of 0.97. The firm has a market cap of $6.88 billion, a P/E ratio of 9.60 and a beta of 1.50.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last posted its earnings results on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.65%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $705.97 million. During the same quarter last year, the business earned $2.67 earnings per share. On average, analysts anticipate that Western Alliance Bancorporation will post 7.94 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.63%.

About Western Alliance Bancorporation

(Get Free Report

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.

See Also

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.