Western Alliance Bancorporation (NYSE:WAL) Coverage Initiated by Analysts at Hovde Group

Hovde Group initiated coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a report published on Monday, StockNewsAPI reports. The brokerage issued an outperform rating and a $75.00 price objective on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. DA Davidson reaffirmed a buy rating and set a $85.00 price objective on shares of Western Alliance Bancorporation in a research note on Thursday, March 21st. Citigroup increased their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a buy rating in a report on Monday, January 29th. Stephens reiterated an overweight rating and set a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday. StockNews.com lowered Western Alliance Bancorporation from a hold rating to a sell rating in a research report on Saturday, March 9th. Finally, Jefferies Financial Group dropped their price objective on Western Alliance Bancorporation from $80.00 to $70.00 and set a buy rating on the stock in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of Moderate Buy and an average price target of $70.88.

Western Alliance Bancorporation Stock Up 2.2 %

Shares of WAL opened at $58.71 on Monday. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 8.56 and a beta of 1.47. Western Alliance Bancorporation has a 52 week low of $11.35 and a 52 week high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The business’s fifty day moving average price is $59.41 and its two-hundred day moving average price is $56.71.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same period last year, the company earned $2.30 EPS. On average, analysts predict that Western Alliance Bancorporation will post 7.87 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.52%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation during the 1st quarter worth $27,000. GAMMA Investing LLC increased its stake in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the period. Parkside Financial Bank & Trust raised its holdings in Western Alliance Bancorporation by 422.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 760 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $65,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth $93,000. 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.