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

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

A number of research firms recently weighed in on WAL. Barclays reduced their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada cut their target price 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 cut their target price 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. Jefferies Financial Group assumed 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. Finally, Wells Fargo & Company cut their target price 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.

Western Alliance Bancorporation Stock Up 3.1%

WAL stock opened at $77.81 on Friday. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. The firm has a market cap of $8.59 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.56 and a beta of 1.29. The business has a 50 day moving average of $73.02 and a 200 day moving average of $78.65.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. The company had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter last year, the company earned $1.72 EPS. On average, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.95%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently modified their holdings of the company. HWG Holdings LP purchased a new position in shares of Western Alliance Bancorporation in the 1st quarter worth $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter worth $26,000. Smartleaf Asset Management LLC boosted its stake in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after buying an additional 117 shares during the last quarter. Tsfg LLC purchased a new position in shares of Western Alliance Bancorporation in the 1st quarter worth $33,000. Finally, Atala Financial Inc purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter worth $44,000. 79.15% of the stock is currently owned by hedge funds and other 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.

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