Western Alliance Bancorporation (NYSE:WAL) Receives Average Recommendation of “Buy” from Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been given an average recommendation of “Buy” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $97.77.

Several equities analysts have recently issued reports on the company. Barclays decreased their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. Truist Financial began coverage on Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a “buy” rating and a $92.00 price target for the company. Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently added to or reduced their stakes in WAL. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation in the fourth quarter worth $26,000. HWG Holdings LP purchased a new position in Western Alliance Bancorporation in the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 3.1%

WAL opened at $74.34 on Monday. The company has a market capitalization of $8.21 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.63 and a beta of 1.29. The firm’s fifty day moving average price is $70.61 and its two-hundred day moving average price is $80.35. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period last year, the firm posted $1.72 EPS. On average, analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.04%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 20.85%.

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.