Western Alliance Bancorporation (NYSE:WAL) Receives $98.07 Consensus Target Price from Brokerages

Shares of Western Alliance Bancorporation (NYSE:WAL) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $98.07.

A number of equities research analysts have commented on WAL shares. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. DA Davidson decreased their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th.

Institutional Investors Weigh In On Western Alliance Bancorporation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC increased its position in shares of Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC grew its holdings in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the period. Versant Capital Management Inc lifted its stake in shares of Western Alliance Bancorporation by 13.4% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after buying an additional 157 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its stake in shares of Western Alliance Bancorporation by 0.6% during the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider’s stock worth $2,226,000 after buying an additional 160 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Up 1.0 %

Shares of WAL stock opened at $77.39 on Wednesday. The firm has a market capitalization of $8.55 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $85.08 and its 200 day simple moving average is $85.96.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend 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.