Western Alliance Bancorporation (NYSE:WAL) Receives $98.07 Consensus Price Target from Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $98.07.

WAL has been the topic of a number of analyst reports. DA Davidson dropped their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th.

Western Alliance Bancorporation Trading Down 1.1 %

WAL stock opened at $86.12 on Friday. The company has a market capitalization of $9.48 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company’s 50 day moving average price is $86.70 and its two-hundred day moving average price is $85.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.76%. Western Alliance Bancorporation’s payout ratio is 21.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its position in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp boosted its position 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. Allworth Financial LP boosted its position in shares of Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

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.