Western Alliance Bancorporation (NYSE:WAL) Given New $78.00 Price Target at DA Davidson

Western Alliance Bancorporation (NYSE:WAL) had its price objective decreased by DA Davidson from $85.00 to $78.00 in a report issued on Monday morning, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company lowered their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday, April 10th. Citigroup upped their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a buy rating in a research note on Monday, January 29th. Truist Financial reissued a buy rating and issued a $80.00 price target on shares of Western Alliance Bancorporation in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. Finally, StockNews.com cut shares of Western Alliance Bancorporation from a hold rating to a sell rating in a research note on Saturday, March 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $70.88.

Western Alliance Bancorporation Trading Up 2.2 %

NYSE WAL opened at $58.71 on Monday. The firm has a market cap of $6.47 billion, a PE 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 quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average price of $59.41 and a 200 day moving average price of $56.71.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $2.30 earnings per share. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 7.87 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

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

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently bought and sold shares of WAL. National Bank of Canada FI raised its holdings in shares of Western Alliance Bancorporation by 2,042.7% during the third quarter. National Bank of Canada FI now owns 66,425 shares of the financial services provider’s stock valued at $2,958,000 after acquiring an additional 63,325 shares during the last quarter. AE Wealth Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $1,173,000. SG Americas Securities LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $4,316,000. Impact Partnership Wealth LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter valued at $146,000. Finally, Handelsbanken Fonder AB boosted its stake in Western Alliance Bancorporation by 9.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 1,500 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Company Profile

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.