Analysts Set Western Alliance Bancorporation (NYSE:WAL) PT at $92.93

Western Alliance Bancorporation (NYSE:WAL) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $92.9286.

Several equities analysts recently commented on WAL shares. Keefe, Bruyette & Woods upped their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Barclays dropped their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler dropped their target price on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $83.00 to $79.00 in a research note on Monday, March 9th. Finally, Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. This represents a 63.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. NewEdge Advisors LLC grew its stake in Western Alliance Bancorporation by 71.2% in the 1st quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after acquiring an additional 3,249 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Western Alliance Bancorporation by 513.5% during the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,448 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Western Alliance Bancorporation by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after purchasing an additional 21,642 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after purchasing an additional 35,276 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Western Alliance Bancorporation by 11.3% during the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 713 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $79.84 on Friday. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.60 and a beta of 1.34. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The firm’s 50-day moving average is $79.10 and its 200 day moving average is $81.93. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. The company had revenue of $968.40 million for the quarter, compared to the consensus estimate of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.79 EPS. Research analysts predict that Western Alliance Bancorporation will post 9.8 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 19.56%.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.