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

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $96.62.

WAL has been the topic of several analyst reports. Barclays cut their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada decreased their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. StockNews.com downgraded Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Monday. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, DA Davidson dropped their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently modified their holdings of WAL. Franklin Resources Inc. lifted its position in shares of Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after acquiring an additional 45,764 shares during the period. New York State Common Retirement Fund grew its holdings in Western Alliance Bancorporation by 9.3% in the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after purchasing an additional 8,201 shares during the last quarter. Norden Group LLC purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at $727,000. Generate Investment Management Ltd increased its position in shares of Western Alliance Bancorporation by 0.7% in the fourth quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider's stock valued at $34,842,000 after buying an additional 2,772 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 8.5% during the 4th quarter. HighTower Advisors LLC now owns 16,750 shares of the financial services provider's stock worth $1,399,000 after buying an additional 1,312 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Up 0.2%

NYSE:WAL traded up $0.18 during midday trading on Thursday, hitting $79.38. 136,182 shares of the company traded hands, compared to its average volume of 1,216,029. The firm has a market capitalization of $8.76 billion, a P/E ratio of 11.18, a P/E/G ratio of 0.63 and a beta of 1.30. The firm's fifty day moving average is $71.57 and its 200-day moving average is $82.24. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The business 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 13.14% and a net margin of 15.49%. During the same quarter last year, the firm posted $1.72 earnings per share. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 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.