Western Alliance Bancorporation (NYSE:WAL) Receives $97.77 Average Target Price from Brokerages

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has been given an average recommendation of "Buy" by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One equities 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 twelve-month price target among analysts that have covered the stock in the last year is $97.77.

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They set a "buy" rating and a $92.00 price target on the stock. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays reduced their price target 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.

Hedge Funds Weigh In On Western Alliance Bancorporation

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock valued at $151,604,000 after acquiring an additional 648,983 shares during the period. Nuveen LLC bought a new position in Western Alliance Bancorporation during the first quarter valued at about $45,486,000. Janus Henderson Group PLC raised its holdings in Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after acquiring an additional 445,176 shares in the last quarter. Finally, FJ Capital Management LLC lifted its position in shares of Western Alliance Bancorporation by 824.8% in the 1st quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider's stock worth $33,998,000 after acquiring an additional 394,660 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Up 0.6%

Shares of Western Alliance Bancorporation stock traded up $0.46 on Friday, hitting $78.08. 1,026,624 shares of the company traded hands, compared to its average volume of 1,215,715. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-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 company has a market cap of $8.62 billion, a PE ratio of 10.71, a PEG ratio of 0.58 and a beta of 1.29. The company has a 50-day moving average price of $73.25 and a 200 day moving average price of $78.39.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same period in the prior year, the firm posted $1.72 EPS. Sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed 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 was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.95%. Western Alliance Bancorporation's payout ratio is 20.85%.

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.