Western Alliance Bancorporation (NYSE:WAL) Price Target Lowered to $101.00 at Piper Sandler

Western Alliance Bancorporation (NYSE:WAL) had its price target decreased by Piper Sandler from $102.00 to $101.00 in a research report released on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

WAL has been the topic of several other reports. Stephens reiterated an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group increased their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Bank of America boosted their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $82.34 on Monday. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve 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 stock has a fifty day simple moving average of $83.04 and a two-hundred day simple moving average of $71.03. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of large investors have recently bought and sold shares of WAL. Vanguard Group Inc. raised its position in Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after buying an additional 395,101 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Western Alliance Bancorporation by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after purchasing an additional 717,242 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after purchasing an additional 636,577 shares during the last quarter. William Blair Investment Management LLC grew its position in Western Alliance Bancorporation by 0.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after purchasing an additional 20,876 shares during the period. Finally, Hood River Capital Management LLC raised its stake in shares of Western Alliance Bancorporation by 5.9% during the 1st quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider’s stock valued at $105,378,000 after buying an additional 91,535 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.