Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Western Alliance Bancorporation has a “Moderate Buy” consensus among 15 analysts, with 10 buy ratings and five holds. The average 12-month price target is $95.47, above the stock’s reported price of $78.54.
• Recent quarterly results met expectations, with EPS of $2.36 and revenue of $995.7 million, up 17.7% year over year. Analysts project full-year EPS of $9.16.
• Institutional investors own 79.15% of the company’s shares, while Western Alliance maintains a quarterly dividend of $0.42 per share, equivalent to a 2.1% annual yield.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $95.4706.

A number of brokerages have issued reports on WAL. Citigroup lifted their price objective on Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Truist Financial lifted their price target on shares of 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 boosted their price target on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a research report on Monday, July 27th. Mizuho set a $96.00 price objective on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Finally, Weiss Ratings lowered shares of Western Alliance Bancorporation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors have recently bought and sold shares of WAL. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Western Alliance Bancorporation in the second quarter valued at about $174,329,000. Focus Partners Advisor Solutions LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $1,877,000. Independent Financial Group LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $924,000. GSA Capital Partners LLP acquired a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $2,051,000. Finally, Hsbc Holdings PLC raised its stake in shares of Western Alliance Bancorporation by 635.0% in the first quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider's stock worth $3,409,000 after acquiring an additional 41,786 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 1.1%

NYSE WAL opened at $78.54 on Friday. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.76 and a beta of 1.33. The stock's 50 day moving average is $80.73 and its two-hundred day moving average is $78.48. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.36. The business had revenue of $995.70 million during the quarter, compared to analysts' expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.Western Alliance Bancorporation's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. Equities analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

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

About Western Alliance Bancorporation

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 and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners' associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.

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