Western Alliance Bancorporation (NYSE:WAL) Price Target Lowered to $105.00 at JPMorgan Chase & Co.

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

WAL has been the subject of a number of other reports. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note 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 boosted their price objective for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday. Truist Financial lowered their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Wedbush raised their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.31.

Western Alliance Bancorporation Stock Down 2.4 %

Shares of NYSE:WAL opened at $81.70 on Tuesday. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.41 and a beta of 1.46. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $88.65 and a 200 day moving average price of $81.70.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, equities research 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 issued a $0.38 dividend. This is a boost 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 1.86%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 23.46%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $33,000. UMB Bank n.a. grew its stake in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Blue Trust Inc. increased its position in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares in the last quarter. Finally, Covestor Ltd raised its stake in Western Alliance Bancorporation by 167.5% in the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after buying an additional 397 shares during the last quarter. Hedge funds and other 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.