Brokerages Set Western Alliance Bancorporation (NYSE:WAL) PT at $96.40

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $96.40.

A number of equities analysts recently commented on the company. Stephens restated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Barclays dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Piper Sandler lifted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd.

Western Alliance Bancorporation Stock Up 3.4 %

Shares of WAL opened at $66.11 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market cap of $7.30 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The company’s 50-day moving average price is $77.98 and its 200 day moving average price is $84.27. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.30%. Western Alliance Bancorporation’s payout ratio is 21.41%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after acquiring an additional 648,983 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock valued at $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Western Alliance Bancorporation by 23.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider’s stock worth $195,616,000 after acquiring an additional 445,176 shares during the period. Finally, Bank of Montreal Can raised its holdings in Western Alliance Bancorporation by 973.1% during the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider’s stock worth $35,239,000 after purchasing an additional 382,513 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other 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.