Analysts Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $94.82

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $94.8235.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Truist Financial raised their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Stephens set a $95.00 price target on shares of Western Alliance Bancorporation and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, DA Davidson set a $36.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, July 22nd.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $81.31 on Friday. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.80 and a current ratio of 0.86. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The firm’s 50-day simple moving average is $81.34 and its 200 day simple moving average is $80.77.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting the consensus estimate of $2.36. The firm had revenue of $995.70 million during the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 earnings per share. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is presently 18.92%.

Insider Activity

In related news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently made changes to their positions in WAL. Quadrant Capital Group LLC grew its position in shares of Western Alliance Bancorporation by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock worth $505,000 after buying an additional 113 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Western Alliance Bancorporation by 4.6% in the 4th quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 133 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 134 shares in the last quarter. Truist Financial Corp increased its position in shares of Western Alliance Bancorporation by 5.2% during the fourth quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after buying an additional 152 shares during the period. Finally, Allworth Financial LP raised its stake in Western Alliance Bancorporation by 39.3% in the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock worth $47,000 after buying an additional 157 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.