Western Alliance Bancorporation (NYSE:WAL) Receives $96.62 Average Target Price from Brokerages

Key Points

• Analysts have given Western Alliance Bancorporation (NYSE:WAL) a consensus rating of "Moderate Buy", with twelve buy ratings and one hold rating.
• The average price target for the stock among analysts is $96.62, with recent targets ranging from $87.00 to $105.00.
• Western Alliance Bancorporation recently announced a quarterly dividend of $0.38, with a yield of 1.8% and a payout ratio of 19.97%.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $96.6154.

A number of equities research analysts have issued reports on WAL shares. Truist Financial cut their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Barclays increased their price target on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler raised their price objective on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company cut their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a research report on Monday, July 21st. Finally, Citigroup raised their price objective 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 Price Performance

WAL stock traded down $1.2250 during trading on Friday, reaching $81.6550. The company's stock had a trading volume of 287,580 shares, compared to its average volume of 1,107,377. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $9.01 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33. The company's fifty day moving average is $79.58 and its 200-day moving average is $77.28.

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

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. This trade 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 at the SEC website. 2.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Western Alliance Bancorporation in the second quarter worth about $137,289,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Western Alliance Bancorporation by 55.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after purchasing an additional 648,983 shares during the last quarter. Nuveen LLC bought a new stake in Western Alliance Bancorporation in the first quarter worth about $45,486,000. Janus Henderson Group PLC lifted its stake in Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after purchasing an additional 445,176 shares during the last quarter. Finally, FJ Capital Management LLC lifted its stake in Western Alliance Bancorporation by 824.8% in the first quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider's stock worth $33,998,000 after purchasing an additional 394,660 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

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.