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

Shares of Western Alliance Bancorporation (NYSE:WAL) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $94.31.

Several brokerages have recently issued reports on WAL. Piper Sandler decreased their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Finally, Barclays raised their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

Institutional Trading of Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the third quarter worth $33,000. UMB Bank n.a. increased its stake in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 249 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $94.06 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.35 billion, a P/E ratio of 14.51, a PEG ratio of 0.88 and a beta of 1.46. The company has a 50-day moving average price of $88.03 and a 200 day moving average price of $83.91. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 7.11 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.38 per share. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

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.