Western Alliance Bancorporation - WAL Stock Forecast, Price & News

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 in Commercial, Consumer Related, and Corporate & Other 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; and treasury management and residential mortgage products and services. It also offers commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company provides other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, lock box services, courier, and cash management services. Further, it holds certain investment securities, municipal and non-profit loans, and leases; invests primarily in low-income housing tax credits and small business investment corporations; and holds certain real estate loans and related securities. The company operates 36 branch locations, as well as loan production offices. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WAL shares. Piper Sandler reduced their target price on shares of Western Alliance Bancorporation to $105.00 in a research report on Friday, May 20th. Wedbush increased their price objective on Western Alliance Bancorporation to $85.00 in a research report on Friday, July 22nd. DA Davidson cut their price target on Western Alliance Bancorporation to $100.00 in a research note on Monday, July 25th. Truist Financial decreased their price target on Western Alliance Bancorporation to $95.00 in a report on Tuesday, July 26th. Finally, Jefferies Financial Group reduced their target price on shares of Western Alliance Bancorporation from $108.00 to $92.00 in a research note on Monday, July 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $108.86.

Western Alliance Bancorporation Trading Up 2.0 %

WAL traded up $1.68 during midday trading on Friday, reaching $85.53. 396,687 shares of the company were exchanged, compared to its average volume of 844,006. The stock has a market capitalization of $9.26 billion, a P/E ratio of 9.20, a PEG ratio of 0.74 and a beta of 1.42. Western Alliance Bancorporation has a one year low of $68.41 and a one year high of $124.93. The stock's 50-day simple moving average is $74.72 and its 200 day simple moving average is $81.37. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.99.

Western Alliance Bancorporation (NYSE:WAL - Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.09. The business had revenue of $628.20 million for the quarter, compared to the consensus estimate of $585.26 million. Western Alliance Bancorporation had a net margin of 40.16% and a return on equity of 21.55%. During the same period last year, the company posted $2.29 EPS. As a group, analysts forecast that Western Alliance Bancorporation will post 10.03 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be issued a $0.36 dividend. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.35. The ex-dividend date is Thursday, August 11th. This represents a $1.44 annualized dividend and a dividend yield of 1.68%. Western Alliance Bancorporation's payout ratio is 15.20%.

Insider Activity at Western Alliance Bancorporation

In related news, CFO Dale Gibbons bought 2,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Friday, June 10th. The stock was purchased at an average cost of $77.22 per share, with a total value of $154,440.00. Following the purchase, the chief financial officer now owns 258,365 shares in the company, valued at $19,950,945.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.57% of the stock is owned by corporate insiders.