Stephens Reaffirms Overweight Rating for Western Alliance Bancorporation (NYSE:WAL)

Stephens reaffirmed their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a research report released on Tuesday,Benzinga reports. Stephens currently has a $92.00 price objective on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on WAL. JPMorgan Chase & Co. lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays cut their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $98.92.

Western Alliance Bancorporation Stock Up 0.7 %

Western Alliance Bancorporation stock opened at $65.35 on Tuesday. The firm has a 50 day moving average price of $75.74 and a 200-day moving average price of $83.63. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The company has a market capitalization of $7.22 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same period in the prior year, the company earned $1.72 earnings per share. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.33%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Institutional Trading of Western Alliance Bancorporation

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC increased its stake in Western Alliance Bancorporation by 3.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 114 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after buying an additional 157 shares in the last quarter. Finally, MidWestOne Financial Group Inc. lifted its position in Western Alliance Bancorporation by 0.6% in the 4th quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider’s stock worth $2,226,000 after buying an additional 160 shares during the last quarter. Hedge funds and other institutional investors 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.