Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Rating of “Moderate Buy” from Analysts

Western Alliance Bancorporation (NYSE:WAL) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $72.47.

WAL has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $70.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, May 8th. Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a research report on Monday, April 22nd. They set an “outperform” rating and a $75.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Jefferies Financial Group dropped their target price on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Finally, Truist Financial dropped their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd.

Western Alliance Bancorporation Trading Down 1.2 %

NYSE WAL opened at $58.95 on Monday. Western Alliance Bancorporation has a 12 month low of $34.45 and a 12 month high of $70.23. The company has a 50-day moving average of $60.58 and a 200-day moving average of $61.12. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The company has a market cap of $6.49 billion, a P/E ratio of 8.59, a P/E/G ratio of 1.12 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same quarter in the prior year, the company posted $2.30 EPS. As a group, equities analysts predict that Western Alliance Bancorporation will post 7.44 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 16th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Insider Activity

In related news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the transaction, the chief accounting officer now directly owns 5,636 shares in the company, valued at $361,831.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Western Alliance Bancorporation during the first quarter valued at $27,000. GAMMA Investing LLC increased its holdings in shares of Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Western Alliance Bancorporation by 422.2% during the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at $65,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at $93,000. 79.15% of the stock is owned by institutional investors and hedge funds.

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.