Western Alliance Bancorporation (NYSE:WAL) Receives $94.75 Average PT from Analysts

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $94.75.

WAL has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wedbush upped their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. Finally, Stephens restated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th.

Western Alliance Bancorporation Trading Up 1.8 %

WAL opened at $84.40 on Friday. The firm has a 50 day simple moving average of $88.71 and a 200 day simple moving average of $81.22. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

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

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $11,461,000. Franklin Resources Inc. grew its stake in shares of Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock valued at $27,970,000 after buying an additional 45,764 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in Western Alliance Bancorporation during the third quarter worth $5,099,000. BNP Paribas Financial Markets raised its position in Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after acquiring an additional 31,214 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Western Alliance Bancorporation by 41.4% in the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock valued at $37,475,000 after acquiring an additional 174,682 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.