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

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $96.62.

A number of equities analysts recently weighed in on WAL shares. 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 report on Tuesday, April 8th. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada decreased their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently modified their holdings of WAL. HWG Holdings LP purchased a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the period. Finally, Tsfg LLC purchased a new stake in Western Alliance Bancorporation in the first quarter valued at $33,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

WAL stock traded down $0.51 during trading on Thursday, hitting $74.44. 446,405 shares of the company traded hands, compared to its average volume of 1,215,702. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The stock's 50-day simple moving average is $71.61 and its 200 day simple moving average is $82.27. The company has a market cap of $8.23 billion, a PE ratio of 10.48, a P/E/G ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The firm had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. During the same period in the previous year, the business posted $1.72 EPS. On average, equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

About Western Alliance Bancorporation

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.