Western Alliance Bancorporation (NYSE:WAL) Given New $93.00 Price Target at DA Davidson

Western Alliance Bancorporation (NYSE:WAL) had its price target reduced by DA Davidson from $105.00 to $93.00 in a research note published on Tuesday,Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on WAL. National Alliance Securities restated a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, January 9th. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday, February 2nd. TD Cowen downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.40.

Western Alliance Bancorporation Price Performance

WAL opened at $72.18 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market capitalization of $7.93 billion, a P/E ratio of 8.27, a P/E/G ratio of 0.63 and a beta of 1.34. The company’s 50-day simple moving average is $88.10 and its two-hundred day simple moving average is $85.13. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $97.23.

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

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio is currently 19.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WAL. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at $26,000. Quent Capital LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $26,000. Salomon & Ludwin LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter worth $27,000. Root Financial Partners LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter worth $27,000. Finally, Clearstead Advisors LLC lifted its position in 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 purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Key Western Alliance Bancorporation News

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

• Positive Sentiment: Wells Fargo upgraded WAL from “underweight” to “equal weight,” which reduces short-term selling pressure compared with a downgrade; the firm set a $79 target (lower than before). Wells Fargo upgrade article
• Neutral Sentiment: Citigroup trimmed its price target from $107 to $103 but kept a “buy” rating, signaling continued fundamental confidence despite reduced upside. Citigroup price target cut
• Neutral Sentiment: DA Davidson lowered its target from $105 to $93 and maintained a “buy” rating — another sign analysts still see upside but are revising expectations downward. DA Davidson price target cut
• Negative Sentiment: TD Cowen downgraded WAL from “buy” to “hold” and set an $83 target, removing a prior bullish endorsement and likely contributing to selling. TD Cowen downgrade article
• Negative Sentiment: Jefferies published a public letter disputing Western Alliance’s statements and outlining facts about loans to First Brands, escalating a legal/credit dispute that increases uncertainty around asset quality and reputational risk. This release is probably the largest single negative catalyst for investor concern today. Jefferies disclosure

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.