Western Alliance Bancorporation (NYSE:WAL) Receives $96.62 Consensus PT from Analysts

Western Alliance Bancorporation (NYSE:WAL) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $96.6154.

Several research analysts recently commented on WAL shares. DA Davidson lifted their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Citigroup lifted their target price on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Finally, Barclays boosted their price objective on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $82.4720 on Friday. The company has a market capitalization of $9.10 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The company’s fifty day moving average price is $79.87 and its 200 day moving average price is $77.35.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03. The firm had revenue of $836.21 million for the quarter, compared to the consensus estimate of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same quarter last year, the firm posted $1.75 EPS. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.8%. Western Alliance Bancorporation’s payout ratio is presently 19.97%.

Insider Activity

In other news, insider Tim R. Bruckner sold 2,500 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. HWG Holdings LP bought a new stake in Western Alliance Bancorporation in the first quarter valued at about $25,000. Tsfg LLC bought a new stake in Western Alliance Bancorporation in the first quarter valued at about $33,000. Hantz Financial Services Inc. increased its stake in Western Alliance Bancorporation by 995.8% in the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 478 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Western Alliance Bancorporation by 241.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 713 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 504 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Western Alliance Bancorporation in the first quarter valued at about $58,000. 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.