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

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $97.7333.

A number of analysts recently issued reports on WAL shares. National Alliance Securities reissued a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, March 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $105.00 target price (up from $100.00) on shares of Western Alliance Bancorporation in a report on Wednesday, January 28th. Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $83.00 to $79.00 in a research report on Monday, March 9th. Citigroup lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Finally, DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $105.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth $26,000. Quent Capital LLC bought a new stake in Western Alliance Bancorporation during the third quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $27,000. Root Financial Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $27,000. Finally, Clearstead Advisors LLC increased its stake in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Down 3.5%

Shares of WAL stock opened at $67.70 on Friday. The company’s fifty day simple moving average is $83.11 and its two-hundred day simple moving average is $83.26. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $97.23. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.59 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. The firm had revenue of $890.80 million during the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned $1.95 earnings per share. As a group, analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were paid a $0.42 dividend. The ex-dividend date was Friday, February 20th. This represents a $1.68 annualized dividend and a yield of 2.5%. Western Alliance Bancorporation’s dividend payout ratio is currently 19.24%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.