Barclays Trims Western Alliance Bancorporation (NYSE:WAL) Target Price to $86.00

Western Alliance Bancorporation (NYSE:WAL) had its target price lowered by Barclays from $91.00 to $86.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

WAL has been the topic of several other research reports. JPMorgan Chase & Co. dropped their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating on the stock in a research note on Thursday, April 4th. StockNews.com cut Western Alliance Bancorporation from a hold rating to a sell rating in a research note on Saturday, March 9th. Citigroup increased their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a buy rating in a research note on Monday, January 29th. DA Davidson dropped their target price on Western Alliance Bancorporation from $85.00 to $78.00 and set a buy rating on the stock in a research report on Monday, April 22nd. Finally, Truist Financial dropped their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a buy rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $70.56.

Western Alliance Bancorporation Trading Up 0.2 %

Shares of NYSE WAL opened at $58.72 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The business’s 50 day moving average price is $59.29 and its 200-day moving average price is $56.95. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 8.56 and a beta of 1.47.

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, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. During the same quarter in the prior year, the firm earned $2.30 earnings per share. On average, sell-side analysts expect that Western Alliance Bancorporation will post 7.67 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 dividend yield of 2.52%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the last quarter. Riverwater Partners LLC raised its stake in shares of Western Alliance Bancorporation by 0.7% during the 4th quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock valued at $1,920,000 after buying an additional 211 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Western Alliance Bancorporation by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock valued at $2,182,000 after buying an additional 240 shares during the last quarter. Madison Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 0.4% during the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock valued at $4,959,000 after buying an additional 297 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its stake in shares of Western Alliance Bancorporation by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 11,373 shares of the financial services provider’s stock valued at $749,000 after buying an additional 303 shares during the last quarter. Institutional investors and hedge funds 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.