Western Alliance Bancorporation (NYSE:WAL) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

Western Alliance Bancorporation (NYSE:WAL) had its price objective decreased by Wells Fargo & Company from $102.00 to $95.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

WAL has been the topic of a number of other research reports. Barclays boosted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. Stephens reissued an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Finally, Piper Sandler lowered their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.31.

Western Alliance Bancorporation Stock Down 0.8 %

Shares of NYSE:WAL opened at $83.70 on Monday. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-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 cap of $9.21 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.41 and a beta of 1.46. The firm has a fifty day moving average price of $88.71 and a 200 day moving average price of $81.37.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Sell-side analysts predict that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.82%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 23.46%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WAL. Oliver Luxxe Assets LLC increased its position in Western Alliance Bancorporation by 5.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 50,301 shares of the financial services provider’s stock worth $4,202,000 after buying an additional 2,492 shares in the last quarter. Nordea Investment Management AB increased its position in Western Alliance Bancorporation by 3.1% during the 4th quarter. Nordea Investment Management AB now owns 88,012 shares of the financial services provider’s stock worth $7,395,000 after purchasing an additional 2,632 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $244,000. GAMMA Investing LLC lifted its holdings in Western Alliance Bancorporation by 25.5% in the 4th quarter. GAMMA Investing LLC now owns 1,423 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 289 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 157 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.