Western Alliance Bancorporation (NYSE:WAL) Price Target Raised to $100.00

Western Alliance Bancorporation (NYSE:WAL - Free Report) had its price objective upped by Barclays from $97.00 to $100.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider's stock.

A number of other equities analysts have also commented on WAL. Truist Financial started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target on the stock. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Citigroup increased their target price on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Stephens reaffirmed an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada reduced 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 report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL traded down $0.63 during trading on Tuesday, reaching $84.48. The company had a trading volume of 338,050 shares, compared to its average volume of 1,215,306. The company has a fifty day moving average of $75.85 and a two-hundred day moving average of $78.32. The stock has a market capitalization of $9.33 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.73.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a net margin of 15.80% and a return on equity of 12.57%. During the same quarter in the prior year, the firm earned $1.72 EPS. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Western Alliance Bancorporation by 5.9% in the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider's stock worth $466,821,000 after acquiring an additional 339,758 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Western Alliance Bancorporation by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock worth $498,612,000 after acquiring an additional 154,575 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Western Alliance Bancorporation by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider's stock worth $276,954,000 after acquiring an additional 26,995 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after acquiring an additional 445,176 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Western Alliance Bancorporation by 1.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock worth $146,668,000 after acquiring an additional 25,260 shares during the last quarter. 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.