Western Alliance Bancorporation (NYSE:WAL) Receives “Buy” Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Wednesday,Benzinga reports. DA Davidson currently has a $90.00 price target on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup increased their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Keefe, Bruyette & Woods upped their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. UBS Group raised their price objective on Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their price objective on Western Alliance Bancorporation from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, Barclays lowered their target price on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Western Alliance Bancorporation Stock Up 3.4%

Shares of WAL opened at $83.28 on Wednesday. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $80.26 and a two-hundred day simple moving average of $81.22. The firm has a market cap of $9.09 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.73 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting the consensus estimate of $2.36. The firm had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.52%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. On average, analysts forecast that Western Alliance Bancorporation will post 9.5 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 29th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 18.92%.

Insider Activity

In related news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the sale, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC increased its stake in shares of Western Alliance Bancorporation by 144.6% during the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth $38,000. Leonteq Securities AG purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth $44,000. V Square Quantitative Management LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter valued at $45,000. Finally, Allworth Financial LP boosted its holdings in Western Alliance Bancorporation by 39.3% in the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Trending Headlines about Western Alliance Bancorporation

Here are the key news stories impacting Western Alliance Bancorporation this week:

• Positive Sentiment: DA Davidson reaffirmed its Buy rating on Western Alliance Bancorporation and raised its price target to $90, implying additional upside from recent trading levels.
• Positive Sentiment: Regional bank earnings have broadly improved sentiment across the group, with reports of strong revenue, loan growth, deposit growth, and solid capital positions helping support Western Alliance shares.
• Positive Sentiment: Western Alliance’s quarterly revenue beat expectations and rose sharply year over year, suggesting its core banking business remains healthy despite market worries.
• Neutral Sentiment: Some coverage highlighted that Western Alliance’s earnings may have missed certain consensus estimates on EPS, which could temper enthusiasm even as investors focus on the broader operational strength.
• Neutral Sentiment: Several transcript and earnings-snapshot articles from the last day largely reinforce the same takeaway: the company is still being closely watched for credit trends and deposit stability after recent bank-sector volatility.

About Western Alliance Bancorporation

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.