Western Alliance Bancorporation’s (WAL) Overweight Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $103.00 price objective on the financial services provider’s stock.

Several other equities analysts have also commented on the stock. Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays upped their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Truist Financial lowered their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Piper Sandler reduced their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.38.

Western Alliance Bancorporation Trading Down 5.1 %

Shares of WAL opened at $89.23 on Tuesday. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a market capitalization of $9.82 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46. The stock has a fifty day moving average of $88.13 and a two-hundred day moving average of $84.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.38 dividend. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.70%. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the period. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter valued at about $33,000. UMB Bank n.a. raised its position in shares of 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 in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

About Western Alliance Bancorporation

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.