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 $94.82, implying upside from the stock’s $80.53 price.
• Western Alliance reported quarterly earnings of $2.36 per share, matching estimates, while revenue rose 17.7% year over year to $995.7 million and exceeded forecasts.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 2.1% yield; shares were recently trading down 0.9%.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $94.8235.

A number of research firms recently weighed in on WAL. Piper Sandler raised their price objective on Western Alliance Bancorporation from $92.00 to $97.00 and gave the company an "overweight" rating in a research report on Friday, July 24th. DA Davidson set a $36.00 target price on Western Alliance Bancorporation in a report on Wednesday, July 22nd. Truist Financial increased their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Barclays cut their target price on Western Alliance Bancorporation from $90.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Finally, Stephens set a $95.00 price target on Western Alliance Bancorporation and gave the stock an "overweight" rating in a research report on Thursday, July 23rd.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. This trade represents a 63.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.76% of the company's stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently made changes to their positions in the company. Clearstead Advisors LLC raised its holdings in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock worth $35,000 after acquiring an additional 243 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Western Alliance Bancorporation in the 4th quarter valued at approximately $38,000. Leonteq Securities AG purchased a new stake in Western Alliance Bancorporation during the 4th quarter valued at $44,000. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the 4th quarter valued at $45,000. Finally, Allworth Financial LP increased its holdings in shares of Western Alliance Bancorporation by 39.3% in the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider's stock worth $47,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Down 0.9%

NYSE:WAL opened at $80.53 on Friday. The firm has a market capitalization of $8.79 billion, a P/E ratio of 9.07, a PEG ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company's 50-day simple moving average is $81.00 and its 200 day simple moving average is $80.97.

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

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th. 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 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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