Brokerages Set Western Alliance Bancorporation (NYSE:WAL) PT at $92.73

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $92.73.

Several research firms have recently weighed in on WAL. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Wedbush raised their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Wells Fargo & Company lifted their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. reduced their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 58.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 42.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation during the 1st quarter worth about $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $33,000. ORG Partners LLC purchased a new position in Western Alliance Bancorporation in the second quarter worth approximately $36,000. Finally, UMB Bank n.a. increased its position in shares of Western Alliance Bancorporation by 136.8% in the 3rd 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. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 1.2 %

Western Alliance Bancorporation stock opened at $90.38 on Thursday. Western Alliance Bancorporation has a 12 month low of $47.54 and a 12 month high of $96.45. The stock has a market capitalization of $9.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.45 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business has a 50 day simple moving average of $85.78 and a 200-day simple moving average of $74.45.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, analysts anticipate that Western Alliance Bancorporation will post 7.13 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.68%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 22.84%.

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.