Western Alliance Bancorporation (NYSE:WAL) Earns Buy Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $115.00 target price on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Wedbush upped 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 report on Tuesday, September 24th. Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Stephens reissued an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $88.27 on Tuesday. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a 50 day moving average of $89.32 and a 200-day moving average of $79.12. 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 market cap of $9.72 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.41 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.72%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 23.46%.

Institutional Trading of Western Alliance Bancorporation

Large investors have recently made changes to their positions in the company. Retirement Systems of Alabama bought a new stake in shares of Western Alliance Bancorporation in the third quarter worth about $11,461,000. Oddo BHF Asset Management Sas bought a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $639,000. Franklin Resources Inc. raised its holdings in Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after buying an additional 45,764 shares during the period. Sanctuary Advisors LLC lifted its stake in Western Alliance Bancorporation by 89.5% in the third quarter. Sanctuary Advisors LLC now owns 7,125 shares of the financial services provider’s stock valued at $667,000 after buying an additional 3,365 shares in the last quarter. Finally, TCW Group Inc. acquired a new position in shares of Western Alliance Bancorporation in the third quarter valued at approximately $2,420,000. Institutional investors own 79.15% of the company’s stock.

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.