Barclays Trims Western Alliance Bancorporation (NYSE:WAL) Target Price to $86.00

Western Alliance Bancorporation (NYSE:WAL) had its target price reduced by Barclays from $91.00 to $86.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

WAL has been the subject of several other reports. StockNews.com downgraded Western Alliance Bancorporation from a hold rating to a sell rating in a report on Saturday, March 9th. Citigroup boosted their price target on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a buy rating in a report on Monday, January 29th. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating for the company in a report on Thursday, April 4th. Finally, Jefferies Financial Group dropped their price objective on Western Alliance Bancorporation from $80.00 to $70.00 and set a buy rating for the company in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $70.56.

Western Alliance Bancorporation Trading Down 1.3 %

Shares of Western Alliance Bancorporation stock opened at $58.58 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23. The company has a market capitalization of $6.45 billion, a P/E ratio of 8.54 and a beta of 1.47. The business has a 50 day moving average price of $59.33 and a 200 day moving average price of $56.85.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same period in the previous year, the firm posted $2.30 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 7.73 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given 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 2.53%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors have recently added to or reduced their stakes in WAL. AE Wealth Management LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth $1,173,000. Impact Partnership Wealth LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth $146,000. Handelsbanken Fonder AB boosted its position in Western Alliance Bancorporation by 9.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 1,500 shares during the period. Peregrine Capital Management LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $9,941,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Western Alliance Bancorporation by 5.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock valued at $408,000 after buying an additional 487 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other 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.