Brokerages Set Western Alliance Bancorporation (NYSE:WAL) PT at $93.40

Western Alliance Bancorporation (NYSE:WAL) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $93.40.

Several research analysts recently issued reports on WAL shares. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wedbush increased their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Piper Sandler cut their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Truist Financial cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $101.00 in a report on Monday, October 7th.

Institutional Trading of Western Alliance Bancorporation

A number of large investors have recently added to or reduced their stakes in WAL. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the third quarter worth about $31,000. ORG Wealth Partners LLC purchased a new stake in Western Alliance Bancorporation during the third quarter worth about $33,000. ORG Partners LLC purchased a new stake in Western Alliance Bancorporation during the second quarter worth about $36,000. UMB Bank n.a. increased its holdings 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 worth $37,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 0.8 %

NYSE:WAL opened at $90.92 on Monday. The firm has a market cap of $10.01 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.47 and a beta of 1.45. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The firm’s fifty day moving average is $88.67 and its 200-day moving average is $78.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Equities analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.38 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.67%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

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.