Brokerages Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $98.07

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $98.07.

A number of brokerages have recently commented on WAL. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WAL. State Street Corp lifted its position in Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after buying an additional 1,418,472 shares in the last quarter. FMR LLC lifted its position in Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares in the last quarter. Norges Bank acquired a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after purchasing an additional 648,983 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after purchasing an additional 506,778 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $77.39 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $85.08 and a two-hundred day moving average price of $86.04. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a market capitalization of $8.55 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

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.