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

Western Alliance Bancorporation (NYSE:WAL) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $98.07.

WAL has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Stephens restated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $86.08 on Friday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a market capitalization of $9.47 billion, a PE ratio of 12.12, a P/E/G ratio of 0.63 and a beta of 1.46. 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 50-day simple moving average of $86.69 and a two-hundred day simple moving average of $86.03.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.77%. Western Alliance Bancorporation’s payout ratio is 21.41%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. FMR LLC raised its position in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares during the period. Norges Bank acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after purchasing an additional 648,983 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after purchasing an additional 506,778 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

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.