Western Alliance Bancorporation (NYSE:WAL) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Western Alliance Bancorporation has received a consensus rating of "Moderate Buy" from 13 analysts, with an average 12-month price target of $97.79.
• The company recently declared a quarterly dividend of $0.38 per share, which equates to an annualized dividend yield of 1.7%.
• Shares of Western Alliance Bancorporation were up 1.0%, trading at $89.64, with a market capitalization of $9.89 billion.

Shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $97.7857.

WAL has been the subject of several research reports. Industrial Alliance Securities set a $104.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. DA Davidson boosted their price objective on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Barclays upped their target price on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Truist Financial decreased their target price on shares of 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.

Western Alliance Bancorporation Trading Down 1.1%

WAL stock traded down $1.00 on Wednesday, hitting $88.63. 1,138,385 shares of the company were exchanged, compared to its average volume of 926,058. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The business's fifty day moving average is $83.97 and its two-hundred day moving average is $77.26. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.61 and a beta of 1.39.

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 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The firm 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 earnings per share. As a group, research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were paid a $0.38 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the transaction, the insider directly owned 24,759 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.75% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WAL. Ameriprise Financial Inc. raised its holdings in Western Alliance Bancorporation by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 355,830 shares of the financial services provider's stock valued at $29,726,000 after acquiring an additional 1,743 shares in the last quarter. Cetera Investment Advisers raised its holdings in Western Alliance Bancorporation by 18.8% in the fourth quarter. Cetera Investment Advisers now owns 4,940 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 781 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Western Alliance Bancorporation by 14.8% in the fourth quarter. EP Wealth Advisors LLC now owns 4,770 shares of the financial services provider's stock valued at $399,000 after acquiring an additional 615 shares in the last quarter. Deutsche Bank AG raised its holdings in Western Alliance Bancorporation by 7.9% in the fourth quarter. Deutsche Bank AG now owns 6,014 shares of the financial services provider's stock valued at $502,000 after acquiring an additional 442 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in Western Alliance Bancorporation by 5.2% in the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after acquiring an additional 4,909 shares in the last quarter. 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.