Analysts Set Western Alliance Bancorporation (NYSE:WAL) PT at $95.47

Western Alliance Bancorporation (NYSE:WAL) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $95.4706.

WAL has been the topic of several research reports. Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Friday, August 21st. DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their target price on Western Alliance Bancorporation from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Western Alliance Bancorporation in the 2nd quarter worth approximately $567,000. California State Teachers Retirement System increased its holdings in shares of Western Alliance Bancorporation by 7,896.6% during the second quarter. California State Teachers Retirement System now owns 9,943,405 shares of the financial services provider’s stock valued at $817,348,000 after acquiring an additional 9,819,060 shares in the last quarter. Wedmont Private Capital raised its holdings in Western Alliance Bancorporation by 6.7% in the second quarter. Wedmont Private Capital now owns 6,326 shares of the financial services provider’s stock worth $510,000 after buying an additional 400 shares during the last quarter. HB Wealth Management LLC raised its holdings in Western Alliance Bancorporation by 201.6% in the 2nd quarter. HB Wealth Management LLC now owns 10,017 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 6,696 shares during the last quarter. Finally, denkapparat Operations GmbH bought a new position in Western Alliance Bancorporation during the 2nd quarter valued at about $273,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $78.72 on Wednesday. The business has a fifty day simple moving average of $81.29 and a 200 day simple moving average of $79.78. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.59 billion, a P/E ratio of 8.86, a P/E/G ratio of 0.76 and a beta of 1.34.

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

Western Alliance Bancorporation Announces Dividend

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

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.