Western Alliance Bancorporation (NYSE:WAL) Price Target Lowered to $75.00 at Truist Financial

Western Alliance Bancorporation (NYSE:WAL) had its price objective lowered by Truist Financial from $80.00 to $75.00 in a report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

WAL has been the subject of several other reports. Jefferies Financial Group decreased their price objective on Western Alliance Bancorporation from $80.00 to $70.00 and set a buy rating for the company in a research report on Monday, April 8th. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a buy rating for the company in a research report on Monday. Royal Bank of Canada reaffirmed an outperform rating and issued a $78.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 9th. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $72.00 to $68.00 and set an equal weight rating for the company in a report on Wednesday, April 10th. Finally, Barclays initiated coverage on Western Alliance Bancorporation in a report on Friday, March 8th. They issued an overweight rating and a $91.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $70.88.

Western Alliance Bancorporation Stock Up 2.2 %

Shares of NYSE:WAL opened at $58.71 on Monday. The company has a 50 day moving average price of $59.41 and a two-hundred day moving average price of $56.71. The company has a market capitalization of $6.47 billion, a PE ratio of 8.56 and a beta of 1.47. Western Alliance Bancorporation has a 52 week low of $11.35 and a 52 week high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $711.34 million. During the same quarter last year, the business posted $2.30 EPS. Analysts forecast that Western Alliance Bancorporation will post 7.87 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.52%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI boosted its position in Western Alliance Bancorporation by 2,042.7% during the third quarter. National Bank of Canada FI now owns 66,425 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 63,325 shares during the period. AE Wealth Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $1,173,000. SG Americas Securities LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $4,316,000. Impact Partnership Wealth LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $146,000. Finally, Handelsbanken Fonder AB raised its holdings in Western Alliance Bancorporation by 9.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 1,500 shares during the period. 79.15% of the stock is currently 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.