Western Alliance Bancorporation (WAL) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Western Alliance Bancorporation (NYSE: WAL) in the last few weeks:

• 4/23/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Barclays PLC from $91.00 to $86.00. They now have an “overweight” rating on the stock.
• 4/22/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Royal Bank of Canada from $78.00 to $76.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Keefe, Bruyette & Woods from $79.00 to $74.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – Western Alliance Bancorporation is now covered by analysts at Hovde Group. They set an “outperform” rating and a $75.00 price target on the stock.
• 4/22/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Truist Financial Co. from $80.00 to $75.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Western Alliance Bancorporation had its price target lowered by analysts at DA Davidson from $85.00 to $78.00. They now have a “buy” rating on the stock.
• 4/19/2024 – Western Alliance Bancorporation had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $82.00 price target on the stock.
• 4/19/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Wedbush from $75.00 to $70.00. They now have an “outperform” rating on the stock.
• 4/10/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Wells Fargo & Company from $72.00 to $68.00. They now have an “equal weight” rating on the stock.
• 4/9/2024 – Western Alliance Bancorporation had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $78.00 price target on the stock.
• 4/8/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Jefferies Financial Group Inc. from $80.00 to $70.00. They now have a “buy” rating on the stock.
• 4/4/2024 – Western Alliance Bancorporation had its price target lowered by analysts at JPMorgan Chase & Co. from $90.00 to $85.00. They now have an “overweight” rating on the stock.
• 4/1/2024 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $80.00 price target on the stock.
• 3/21/2024 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $85.00 price target on the stock.
• 3/9/2024 – Western Alliance Bancorporation was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/8/2024 – Western Alliance Bancorporation is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $91.00 price target on the stock.
• 3/1/2024 – Western Alliance Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $58.68 on Monday. The business’s fifty day simple moving average is $59.29 and its two-hundred day simple moving average is $57.11. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 8.55 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate 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 last year, the business posted $2.30 EPS. Research analysts anticipate that Western Alliance Bancorporation will post 7.67 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 dividend yield of 2.52%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB lifted its position in Western Alliance Bancorporation by 9.5% during the third quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 1,500 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Western Alliance Bancorporation by 5.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 487 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Western Alliance Bancorporation by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 636,814 shares of the financial services provider’s stock valued at $29,274,000 after purchasing an additional 18,178 shares in the last quarter. Jackson Square Capital LLC purchased a new position in Western Alliance Bancorporation during the third quarter valued at $827,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Western Alliance Bancorporation by 3.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,498 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 724 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.