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

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has been given an average rating of "Buy" by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $97.77.

A number of research firms recently weighed in on WAL. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Truist Financial began coverage on Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target on the stock. Royal Bank of Canada decreased their price target on 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 decreased their price target on 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, Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price target on the stock.

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. Barclays PLC boosted its position in shares of Western Alliance Bancorporation by 2.9% in the third quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock worth $10,674,000 after acquiring an additional 3,421 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Western Alliance Bancorporation during the fourth quarter worth approximately $298,000. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the period. KBC Group NV boosted its holdings in shares of Western Alliance Bancorporation by 58.1% in the 4th quarter. KBC Group NV now owns 4,393 shares of the financial services provider's stock valued at $367,000 after purchasing an additional 1,614 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after buying an additional 163 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 0.9%

Shares of NYSE WAL traded down $0.64 during midday trading on Monday, hitting $71.77. 633,509 shares of the company's stock were exchanged, compared to its average volume of 1,227,567. The firm's fifty day simple moving average is $71.07 and its 200-day simple moving average is $80.95. The company has a market cap of $7.92 billion, a PE ratio of 10.11, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (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 the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same quarter last year, the business posted $1.72 EPS. Research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.12%. Western Alliance Bancorporation's payout ratio is currently 20.85%.

About Western Alliance Bancorporation

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.