Western Alliance Bancorporation (NYSE:WAL) Earns Buy Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $92.00 price objective on the financial services provider’s stock.

WAL has been the topic of a number of other reports. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stephens reissued an “overweight” rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Royal Bank of Canada cut their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays cut their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $79.89 on Tuesday. The company’s 50 day simple moving average is $71.59 and its 200-day simple moving average is $82.22. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

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

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 20.85%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently modified their holdings of the company. HWG Holdings LP purchased a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $26,000. 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 valued at $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares in the last quarter. Finally, Tsfg LLC acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at $33,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.