Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Rating of "Moderate Buy" from 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 brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $97.7857.

Several research analysts have commented on WAL shares. JPMorgan Chase & Co. upped their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup restated a "neutral" rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. Finally, Industrial Alliance Securities set a $104.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th.

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 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 completion of the transaction, the insider directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WAL. Norges Bank bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at $137,289,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Western Alliance Bancorporation by 55.7% in the 4th 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 period. Nuveen LLC bought a new stake in Western Alliance Bancorporation in the 1st quarter worth approximately $45,486,000. FJ Capital Management LLC grew its holdings in shares of 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 acquiring an additional 394,660 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Western Alliance Bancorporation by 5.9% in the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider's stock worth $466,821,000 after acquiring an additional 339,758 shares during the period. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Down 1.1%

Shares of NYSE WAL traded down $1.00 during trading hours on Wednesday, hitting $88.63. The company's stock had a trading volume of 1,137,084 shares, compared to its average volume of 1,098,668. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.61 and a beta of 1.39. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The business has a 50-day simple moving average of $83.90 and a 200-day simple moving average of $77.36.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $836.21 million during the quarter, compared to analyst estimates of $838.58 million. During the same period in the prior year, the business earned $1.75 EPS. On average, analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.38 per share. 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 (DPR) is presently 19.97%.

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.