Brokerages Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $94.75

Shares of Western Alliance Bancorporation (NYSE:WAL) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $94.31.

A number of analysts recently commented on WAL shares. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. 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 report on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Wedbush boosted their price target 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.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors and hedge funds have recently bought and sold shares of WAL. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter valued at approximately $33,000. UMB Bank n.a. lifted its position in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $81.70 on Friday. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.41 and a beta of 1.46. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $88.65 and a 200 day moving average of $81.70.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS 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 company had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.38 dividend. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.86%. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

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.