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

Western Alliance Bancorporation (NYSE:WAL) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $94.75.

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company boosted their price target on Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Wedbush raised their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. UBS Group assumed coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price for the company. Finally, Stephens restated an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, October 18th.

Western Alliance Bancorporation Trading Down 0.8 %

Shares of NYSE WAL opened at $82.90 on Friday. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.41 and a beta of 1.45. The business’s 50 day moving average price is $88.67 and its 200-day moving average price is $80.90.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million during the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.38 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.83%. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares in the last quarter. UMB Bank n.a. increased its position in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares during the period. Signaturefd LLC raised its stake in Western Alliance Bancorporation by 18.7% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 252 shares during the last quarter. Wedmont Private Capital raised its stake in Western Alliance Bancorporation by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 276 shares during the last quarter. Finally, Creative Planning lifted its position in Western Alliance Bancorporation by 6.1% during the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 330 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

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.