Piper Sandler Issues Positive Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price target increased by Piper Sandler from $94.00 to $105.00 in a research report report published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on WAL. Citigroup increased their price target on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Truist Financial dropped their price target on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. DA Davidson lowered their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.71.

Western Alliance Bancorporation Stock Down 1.3%

Shares of WAL opened at $80.17 on Monday. The stock has a market capitalization of $8.85 billion, a PE ratio of 10.68, a P/E/G ratio of 0.58 and a beta of 1.29. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.85. The company’s 50-day simple moving average is $77.09 and its 200-day simple moving average is $78.21.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.03. The business had revenue of $836.21 million for the quarter, compared to analysts’ expectations of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same quarter in the prior year, the company earned $1.75 earnings per share. Analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation’s payout ratio is currently 19.97%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in Western Alliance Bancorporation by 5.9% in the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock worth $466,821,000 after acquiring an additional 339,758 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider’s stock worth $498,612,000 after buying an additional 154,575 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Western Alliance Bancorporation by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock worth $276,954,000 after purchasing an additional 26,995 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider’s stock valued at $195,616,000 after buying an additional 445,176 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Western Alliance Bancorporation by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,971,205 shares of the financial services provider’s stock worth $153,715,000 after purchasing an additional 62,202 shares during the period. 79.15% of the stock is 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.