Western Alliance Bancorporation (NYSE:WAL) Stock Has Consensus Target Price of $95.47 According to Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $93.65.

A number of analysts have issued reports on WAL shares. Stifel Nicolaus set a $95.00 price objective on Western Alliance Bancorporation in a research note on Thursday, July 23rd. TD Cowen increased their target price on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, July 27th. Truist Financial raised their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a report on Monday, July 27th. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, July 22nd. Finally, Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, July 24th.

Western Alliance Bancorporation Stock Up 0.9%

WAL opened at $76.25 on Friday. The company has a market capitalization of $8.32 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. The firm has a 50-day simple moving average of $80.36 and a two-hundred day simple moving average of $78.40. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.36. The firm had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 earnings per share. Analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a $0.42 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.2%. Western Alliance Bancorporation’s payout ratio is 18.92%.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently made changes to their positions in WAL. Sequoia Financial Advisors LLC grew its position in Western Alliance Bancorporation by 6.3% in the second quarter. Sequoia Financial Advisors LLC now owns 65,552 shares of the financial services provider’s stock worth $5,388,000 after acquiring an additional 3,895 shares in the last quarter. Tidal Investments LLC raised its position in Western Alliance Bancorporation by 41.4% during the second quarter. Tidal Investments LLC now owns 106,374 shares of the financial services provider’s stock valued at $8,744,000 after purchasing an additional 31,142 shares during the period. Engineers Gate Manager LP lifted its stake in shares of Western Alliance Bancorporation by 138.9% in the 2nd quarter. Engineers Gate Manager LP now owns 43,771 shares of the financial services provider’s stock valued at $3,598,000 after purchasing an additional 25,446 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Western Alliance Bancorporation by 191.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 11,738 shares of the financial services provider’s stock valued at $965,000 after purchasing an additional 7,707 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Western Alliance Bancorporation by 58.4% in the 2nd quarter. NewEdge Advisors LLC now owns 16,803 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 6,192 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Company Profile

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 and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners’ associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.