Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $105.00 at JPMorgan Chase & Co.

Western Alliance Bancorporation (NYSE:WAL) had its price target decreased by JPMorgan Chase & Co. from $107.00 to $105.00 in a report published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

WAL has been the topic of a number of other reports. Piper Sandler set a $102.00 price target on Western Alliance Bancorporation in a report on Friday, October 18th. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Jefferies Financial Group boosted their price target on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Stephens reiterated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Finally, Wedbush boosted their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $82.34 on Monday. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $94.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. The business has a 50 day simple moving average of $83.04 and a 200 day simple moving average of $71.03.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares in the company, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,149 shares of company stock valued at $1,539,681. 2.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation during the first quarter worth approximately $27,000. UMB Bank n.a. grew its position in Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 valued at $32,000 after buying an additional 183 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

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.