Western Alliance Bancorporation (NYSE:WAL) Rating Reiterated by Stephens

Stephens reiterated their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Friday, Benzinga reports. They currently have a $82.00 price objective on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on WAL. Wedbush lowered their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an outperform rating for the company in a research note on Friday. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $72.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, April 10th. DA Davidson restated a buy rating and issued a $85.00 price target on shares of Western Alliance Bancorporation in a research note on Thursday, March 21st. Barclays assumed coverage on Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an overweight rating and a $91.00 price target for the company. Finally, Truist Financial restated a buy rating and issued a $80.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $70.88.

Western Alliance Bancorporation Stock Up 2.2 %

Shares of NYSE:WAL opened at $58.71 on Friday. The stock has a fifty day simple moving average of $59.41 and a two-hundred day simple moving average of $56.71. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 8.56 and a beta of 1.47. Western Alliance Bancorporation has a 12-month low of $11.35 and a 12-month high of $70.23. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same quarter in the previous year, the business earned $2.30 earnings per share. On average, research analysts anticipate that Western Alliance Bancorporation will post 7.87 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.57%.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Western Alliance Bancorporation in the first quarter valued at about $27,000. GAMMA Investing LLC lifted its position in shares of Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 760 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at about $65,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at about $93,000. Institutional investors own 79.15% of the company’s stock.

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.