Analysts Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $96.62

Shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $96.62.

WAL has been the topic of several research analyst reports. Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday. Truist Financial reduced their target price on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday. Jefferies Financial Group initiated coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 target price on the stock. Piper Sandler lifted their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Citigroup lifted their price target on Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd.

Western Alliance Bancorporation Trading Down 1.3%

Western Alliance Bancorporation stock traded down $1.12 during trading hours on Tuesday, reaching $82.10. The company had a trading volume of 1,051,743 shares, compared to its average volume of 1,166,552. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.81. The company has a 50-day moving average price of $77.40 and a 200 day moving average price of $78.24. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 0.58 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.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The business had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. During the same period in the previous year, the firm earned $1.75 EPS. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's payout ratio is currently 19.97%.

Insider Activity

In other news, insider Tim R. Bruckner sold 2,500 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider directly owned 24,759 shares of the company's stock, valued at $2,077,527.69. This represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HWG Holdings LP purchased a new stake in Western Alliance Bancorporation in the first quarter worth about $25,000. Tsfg LLC purchased a new stake in Western Alliance Bancorporation in the first quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Western Alliance Bancorporation in the first quarter worth about $58,000. National Bank of Canada FI increased its position in Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after buying an additional 141 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $78,000 after buying an additional 482 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

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.