Western Alliance Bancorporation (NYSE:WAL) Receives Average Rating of “Moderate Buy” from Analysts

Western Alliance Bancorporation (NYSE:WAL) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $96.62.

WAL has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a “buy” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective 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. Wall Street Zen upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Truist Financial lowered their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Monday. Finally, Barclays upped their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th.

Institutional Investors Weigh In On Western Alliance Bancorporation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HWG Holdings LP acquired a new position in Western Alliance Bancorporation during the 1st quarter worth approximately $25,000. Tsfg LLC bought a new position in Western Alliance Bancorporation during the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Western Alliance Bancorporation in the first quarter valued at $58,000. National Bank of Canada FI lifted its stake in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after buying an additional 141 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock valued at $78,000 after buying an additional 482 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 1.3%

WAL opened at $80.17 on Tuesday. The company has a market cap of $8.85 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a 50 day moving average of $77.09 and a 200 day moving average of $78.21. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $836.21 million during the quarter, compared to analysts’ expectations of $838.58 million. During the same period in the prior year, the company earned $1.75 earnings per share. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. Western Alliance Bancorporation’s payout ratio is presently 19.97%.

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.