Western Alliance Bancorporation (NYSE:WAL) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Western Alliance Bancorporation, with 11 buy ratings and four holds. The average 12-month price target is $95.47, above the stock’s reported $79.73 opening price.
• The bank reported quarterly EPS of $2.36, matching estimates, while revenue of $995.7 million exceeded forecasts and rose 17.7% year over year. Net margin was 17.2% and return on equity was 13.4%.
• Western Alliance declared a quarterly dividend of $0.42 per share, equivalent to a $1.68 annualized payout and a 2.1% yield; the dividend payout ratio is 18.92%.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $95.4706.

A number of analysts recently weighed in on the stock. DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Truist Financial upped their price target on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a "buy" rating in a report on Monday, July 27th. TD Cowen increased their price objective on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a research report on Monday, July 27th. Citigroup upped their price objective on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Western Alliance Bancorporation in a report on Friday.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $79.73 on Wednesday. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.70 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The company's 50-day moving average price is $81.31 and its two-hundred day moving average price is $79.98.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. During the same quarter last year, the firm posted $2.07 EPS. The business's revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, August 13th. Western Alliance Bancorporation's dividend payout ratio is 18.92%.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company's stock, valued at approximately $282,285. The trade was a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.76% of the company's stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $26,000. Clearstead Advisors LLC boosted its holdings in shares of Western Alliance Bancorporation by 144.6% during the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock worth $35,000 after purchasing an additional 243 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $38,000. Compound Global Advisors LLC purchased a new position in Western Alliance Bancorporation during the second quarter valued at approximately $41,000. Finally, Leonteq Securities AG purchased a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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