Western Alliance Bancorporation (NYSE:WAL) Receives Average Rating of “Moderate Buy” from Analysts

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $94.75.

WAL has been the topic of a number of recent research reports. Piper Sandler lowered their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Finally, Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $82.90 on Friday. The company has a 50 day simple moving average of $88.67 and a two-hundred day simple moving average of $80.90. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.41 and a beta of 1.45. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. 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 earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. As a group, analysts predict that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.83%. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Western Alliance Bancorporation in the third quarter valued at approximately $33,000. UMB Bank n.a. increased its holdings in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. Blue Trust Inc. lifted its position in Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after buying an additional 397 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

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.