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

Shares of Western Alliance Bancorporation (NYSE:WAL) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $70.56.

WAL has been the topic of a number of research analyst reports. DA Davidson lowered their target price on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Wedbush cut their target price on shares of Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Truist Financial cut their price objective on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Barclays cut their target price on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth about $27,000. GAMMA Investing LLC raised its position in Western Alliance Bancorporation by 57.4% during 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 stake in 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 during the last quarter. Rakuten Securities Inc. acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $65,000. Finally, Fortitude Family Office LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter worth approximately $93,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Up 2.2 %

WAL stock opened at $61.29 on Friday. The firm’s 50-day moving average is $59.25 and its two-hundred day moving average is $57.49. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 8.93 and a beta of 1.47. Western Alliance Bancorporation has a 52 week low of $11.35 and a 52 week high of $70.23.

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, topping analysts’ consensus estimates 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. During the same period in the prior year, the firm posted $2.30 earnings per share. On average, analysts forecast that Western Alliance Bancorporation will post 7.58 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

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.