Western Alliance Bancorporation (NYSE:WAL) Price Target Cut to $95.00 by Analysts at Truist Financial

Western Alliance Bancorporation (NYSE:WAL) had its price target reduced by Truist Financial from $100.00 to $95.00 in a report issued on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

WAL has been the subject of a number of other reports. Jefferies Financial Group lifted their price target on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America boosted their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays upped their price target on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Wedbush upped their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.73.

Western Alliance Bancorporation Price Performance

WAL stock opened at $80.49 on Monday. The firm has a 50 day moving average of $82.73 and a 200-day moving average of $70.79. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $94.28. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is currently 22.84%.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the transaction, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares of the company’s stock, valued at $2,806,356.74. This represents a 0.00 % 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. Also, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,149 shares of company stock worth $1,539,681. Corporate insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently bought and sold shares of WAL. GAMMA Investing LLC increased its holdings in Western Alliance Bancorporation by 57.4% in 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 during the period. Oak Thistle LLC bought a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at $201,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at $27,000. Principal Financial Group Inc. increased its stake in Western Alliance Bancorporation by 32.7% during the 1st quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 2,220 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Western Alliance Bancorporation by 1,649.6% during the 1st quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock valued at $3,735,000 after purchasing an additional 54,865 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

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.