Brokerages Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $95.77

Shares of Western Alliance Bancorporation (NYSE:WAL) have received an average rating of “Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $95.77.

A number of analysts have recently weighed in on WAL shares. Citigroup raised their price objective on Western Alliance Bancorporation from $72.00 to $99.00 in a research report on Wednesday, April 14th. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Friday, April 23rd. Royal Bank of Canada lifted their price target on Western Alliance Bancorporation from $104.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 19th. Truist Financial lifted their price target on Western Alliance Bancorporation from $85.00 to $117.00 in a research report on Tuesday, April 20th. Finally, Wedbush lifted their price target on Western Alliance Bancorporation from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 17th.

In related news, Director Bryan K. Segedi acquired 1,000 shares of the firm’s stock in a transaction dated Friday, June 4th. The stock was acquired at an average price of $100.65 per share, with a total value of $100,650.00. Following the acquisition, the director now directly owns 8,327 shares in the company, valued at approximately $838,112.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Hilton sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $108.19, for a total value of $1,081,900.00. The disclosure for this sale can be found here. Insiders own 3.46% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Wealthcare Advisory Partners LLC purchased a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at about $28,000. Toth Financial Advisory Corp increased its stake in shares of Western Alliance Bancorporation by 61.3% in the 1st quarter. Toth Financial Advisory Corp now owns 484 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 184 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at about $52,000. Rockefeller Capital Management L.P. increased its stake in shares of Western Alliance Bancorporation by 124.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 571 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 317 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.

Western Alliance Bancorporation stock opened at $98.02 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $10.14 billion, a PE ratio of 16.02 and a beta of 1.70. Western Alliance Bancorporation has a 1-year low of $30.34 and a 1-year high of $109.84. The stock has a fifty day simple moving average of $100.53.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.43. The firm had revenue of $337.00 million during the quarter, compared to analysts’ expectations of $337.88 million. Western Alliance Bancorporation had a return on equity of 18.29% and a net margin of 44.76%. During the same quarter last year, the firm earned $0.83 EPS. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 8.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.84%.

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 in two segments, Commercial and Consumer Related. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services.

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Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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