Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $74.00 at Keefe, Bruyette & Woods

Western Alliance Bancorporation (NYSE:WAL) had its price target decreased by Keefe, Bruyette & Woods from $79.00 to $74.00 in a report released on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the company. Barclays assumed coverage on Western Alliance Bancorporation in a research report on Friday, March 8th. They issued an overweight rating and a $91.00 target price on the stock. StockNews.com downgraded Western Alliance Bancorporation from a hold rating to a sell rating in a research report on Saturday, March 9th. Truist Financial reiterated a buy rating and set a $80.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. Citigroup lifted their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a buy rating in a research report on Monday, January 29th. Finally, Wedbush reduced their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $70.56.

Western Alliance Bancorporation Stock Down 1.3 %

Shares of WAL opened at $58.58 on Monday. 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 has a 12 month low of $11.35 and a 12 month high of $70.23. The stock’s 50 day moving average is $59.33 and its two-hundred day moving average is $56.85. The firm has a market cap of $6.45 billion, a P/E ratio of 8.54 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $2.30 earnings per share. Analysts predict that Western Alliance Bancorporation will post 7.73 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.53%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WCM Investment Management LLC raised its position in Western Alliance Bancorporation by 8.7% in the first quarter. WCM Investment Management LLC now owns 200,354 shares of the financial services provider’s stock valued at $12,861,000 after purchasing an additional 16,025 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at $217,000. LHM Inc. acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at $2,171,000. Compound Global Advisors LLC grew its stake in shares of Western Alliance Bancorporation by 45.7% in the first quarter. Compound Global Advisors LLC now owns 501,071 shares of the financial services provider’s stock valued at $32,164,000 after buying an additional 157,170 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at $27,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.