Western Alliance Bancorporation (NYSE:WAL) Receives $87.40 Average Price Target from Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $87.40.

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Wedbush boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Barclays raised their price target on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Truist Financial raised their target price on shares of Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Bank of America boosted their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $85.58 on Wednesday. The company’s 50-day moving average is $79.61 and its 200-day moving average is $67.97. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $9.42 billion, a PE ratio of 12.48, a PEG ratio of 1.61 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $88.92.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data 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. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The firm had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. During the same period last year, the business posted $1.96 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts forecast that Western Alliance Bancorporation will post 7.4 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.57%.

Insiders Place Their Bets

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, July 22nd. The shares were 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 approximately $267,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at approximately $267,344. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,265 shares of company stock valued at $1,700,391. 2.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth $27,000. GAMMA Investing LLC lifted its holdings in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after buying an additional 183 shares during the period. ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $36,000. Chilton Capital Management LLC acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at about $54,000. Finally, Versant Capital Management Inc raised its position in shares of Western Alliance Bancorporation by 26.5% during the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 244 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

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.