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

Shares of Western Alliance Bancorporation (NYSE:WAL) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $92.73.

Several analysts have weighed in on the company. Piper Sandler dropped their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wedbush boosted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Bank of America raised 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. Stephens reiterated an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Finally, Barclays raised their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $89.24 on Thursday. The company has a 50 day moving average price of $85.93 and a 200 day moving average price of $74.89. Western Alliance Bancorporation has a fifty-two week low of $47.60 and a fifty-two week high of $96.45. 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 stock has a market capitalization of $9.82 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results 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). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Analysts forecast that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

Insider Activity

In related 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 value of $247,919.00. Following the sale, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently bought and sold shares of WAL. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $33,000. ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $36,000. Finally, UMB Bank n.a. boosted its stake 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 during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

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.