Analysts’ Recent Ratings Updates for Western Alliance Bancorporation (WAL)

A number of research firms have changed their ratings and price targets for Western Alliance Bancorporation (NYSE: WAL):

• 7/23/2024 – Western Alliance Bancorporation had its price target raised by analysts at JPMorgan Chase & Co. from $80.00 to $100.00. They now have an “overweight” rating on the stock.
• 7/23/2024 – Western Alliance Bancorporation had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $83.00. They now have a “hold” rating on the stock.
• 7/22/2024 – Western Alliance Bancorporation had its price target raised by analysts at Barclays PLC from $86.00 to $92.00. They now have an “overweight” rating on the stock.
• 7/22/2024 – Western Alliance Bancorporation had its price target raised by analysts at Piper Sandler from $76.00 to $93.00. They now have an “overweight” rating on the stock.
• 7/22/2024 – Western Alliance Bancorporation had its price target raised by analysts at Royal Bank of Canada from $78.00 to $87.00. They now have an “outperform” rating on the stock.
• 7/22/2024 – Western Alliance Bancorporation had its price target raised by analysts at Wells Fargo & Company from $68.00 to $85.00. They now have an “equal weight” rating on the stock.
• 7/22/2024 – Western Alliance Bancorporation had its price target raised by analysts at Truist Financial Co. from $74.00 to $88.00. They now have a “buy” rating on the stock.
• 7/22/2024 – Western Alliance Bancorporation had its price target raised by analysts at Bank of America Co. from $82.00 to $98.00. They now have a “buy” rating on the stock.
• 7/19/2024 – Western Alliance Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 7/9/2024 – Western Alliance Bancorporation had its price target raised by analysts at Royal Bank of Canada from $76.00 to $78.00. They now have an “outperform” rating on the stock.
• 7/8/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Truist Financial Co. from $75.00 to $74.00. They now have a “buy” rating on the stock.
• 7/3/2024 – Western Alliance Bancorporation had its price target raised by analysts at Jefferies Financial Group Inc. from $70.00 to $77.00. They now have a “buy” rating on the stock.
• 6/29/2024 – Western Alliance Bancorporation was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 6/21/2024 – Western Alliance Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/12/2024 – Western Alliance Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Western Alliance Bancorporation Price Performance

Shares of WAL traded up $3.20 during trading hours on Thursday, hitting $79.79. 2,475,308 shares of the company were exchanged, compared to its average volume of 1,242,762. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.47 and a beta of 1.46. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $81.15. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm’s fifty day moving average is $63.87 and its 200 day moving average is $61.87.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The company had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a return on equity of 14.18% and a net margin of 15.54%. Western Alliance Bancorporation’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. On average, equities analysts anticipate that Western Alliance Bancorporation will post 7.41 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, May 15th. Western Alliance Bancorporation’s payout ratio is 21.57%.

Insider Activity

In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the sale, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at $267,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. grew its stake in Western Alliance Bancorporation by 1.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock valued at $102,603,000 after acquiring an additional 20,254 shares during the period. Raymond James & Associates raised its holdings in Western Alliance Bancorporation by 1.6% during the 2nd quarter. Raymond James & Associates now owns 21,429 shares of the financial services provider’s stock valued at $1,346,000 after acquiring an additional 340 shares during the period. ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter valued at $36,000. M&G Plc raised its holdings in Western Alliance Bancorporation by 12.4% during the 2nd quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after acquiring an additional 14,734 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of Western Alliance Bancorporation by 9.5% in the second quarter. Wedmont Private Capital now owns 4,826 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 420 shares during the period. 79.15% of the stock is currently owned by institutional investors.

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.