Analysts Set Western Alliance Bancorporation (NYSE:WAL) PT at $97.77

Shares of Western Alliance Bancorporation (NYSE:WAL) have earned an average rating of “Buy” from the thirteen research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $97.77.

Several equities analysts have recently commented on the company. DA Davidson lowered their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Stephens reaffirmed an “overweight” rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Truist Financial started coverage on Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $74.34 on Monday. The stock’s 50-day simple moving average is $70.61 and its 200-day simple moving average is $80.49. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.63 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The business had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same period in the previous year, the business earned $1.72 earnings per share. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.04%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.85%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its position in Western Alliance Bancorporation by 234.6% during the first quarter. Inspire Investing LLC now owns 42,391 shares of the financial services provider’s stock valued at $3,257,000 after purchasing an additional 29,722 shares during the period. Strs Ohio bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $7,041,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after buying an additional 35,276 shares during the last quarter. United Services Automobile Association bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $527,000. Finally, Great Lakes Advisors LLC grew its stake in shares of Western Alliance Bancorporation by 136.1% during the first quarter. Great Lakes Advisors LLC now owns 170,071 shares of the financial services provider’s stock valued at $13,067,000 after buying an additional 98,051 shares during the last quarter. 79.15% of the stock is currently 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.