Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $105.00 at Barclays

Western Alliance Bancorporation (NYSE:WAL) had its price target cut by Barclays from $110.00 to $105.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group increased their target price on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Bank of America boosted their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Stephens restated an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Trading Up 2.4 %

Shares of WAL stock opened at $82.44 on Tuesday. The company has a market cap of $9.08 billion, a P/E ratio of 12.72, a PEG ratio of 1.30 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $94.28. The stock has a 50 day simple moving average of $82.89 and a two-hundred day simple moving average of $70.95. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is 22.84%.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,149 shares of company stock worth $1,539,681. 2.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation during the first quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC lifted its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after buying an additional 183 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter worth approximately $33,000. Finally, ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter valued at $36,000. Institutional investors own 79.15% of the company’s stock.

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.