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

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $103.7333.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, October 23rd. iA Financial set a $101.00 target price on Western Alliance Bancorporation in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a report on Wednesday, January 28th. Finally, Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, January 9th.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $93.07 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.79. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.80 and a beta of 1.37. The company has a 50 day simple moving average of $88.47 and a 200-day simple moving average of $84.54. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business had revenue of $980.90 million for the quarter, compared to the consensus estimate of $912.69 million. During the same period in the prior year, the business posted $1.95 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.24%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its stake in Western Alliance Bancorporation by 5.4% in the 2nd quarter. WCM Investment Management LLC now owns 234,809 shares of the financial services provider’s stock worth $18,226,000 after purchasing an additional 12,116 shares during the period. William Blair Investment Management LLC boosted its position in shares of Western Alliance Bancorporation by 0.9% during the second quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after buying an additional 20,704 shares during the period. Congress Asset Management Co. boosted its position in shares of Western Alliance Bancorporation by 14.5% during the third quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock worth $18,681,000 after buying an additional 27,329 shares during the period. SG Americas Securities LLC grew its holdings in shares of Western Alliance Bancorporation by 568.0% during the third quarter. SG Americas Securities LLC now owns 17,355 shares of the financial services provider’s stock worth $1,505,000 after buying an additional 14,757 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. raised its position in Western Alliance Bancorporation by 100.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the financial services provider’s stock valued at $3,275,000 after buying an additional 21,000 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.