Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $76.00

Western Alliance Bancorporation (NYSE:WAL) had its price target reduced by Royal Bank of Canada from $78.00 to $76.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

WAL has been the topic of several other research reports. Stephens restated an overweight rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. Keefe, Bruyette & Woods cut their target price on Western Alliance Bancorporation from $79.00 to $74.00 and set an outperform rating on the stock in a research report on Monday. Truist Financial reduced their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a buy rating for the company in a report on Monday. Wedbush dropped their price target on Western Alliance Bancorporation from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Friday, April 19th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. One investment 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. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $70.56.

Western Alliance Bancorporation Trading Down 0.7 %

Shares of Western Alliance Bancorporation stock opened at $59.38 on Monday. The business has a fifty day simple moving average of $59.41 and a 200-day simple moving average of $56.84. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 8.66 and a beta of 1.47. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same period in the prior year, the company earned $2.30 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.83 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation during the first quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Western Alliance Bancorporation by 422.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at $65,000. Finally, Fortitude Family Office LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter worth $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.