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.

Analysts Set New Price Targets

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

Western Alliance Bancorporation Price Performance

WAL opened at $85.39 on Tuesday. The stock's 50 day simple moving average is $74.90 and its 200 day simple moving average is $80.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.99 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1 year low of $68.41 and a 1 year high of $124.93. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.77 and a beta of 1.42.

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

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.44 annualized dividend and a yield of 1.69%. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.35. Western Alliance Bancorporation's dividend payout ratio (DPR) is 15.64%.

Insiders Place Their Bets

In other news, CFO Dale Gibbons bought 2,000 shares of the stock in a transaction dated Friday, June 10th. The stock was bought at an average price of $77.22 per share, for a total transaction of $154,440.00. Following the purchase, the chief financial officer now directly owns 258,365 shares in the company, valued at approximately $19,950,945.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.57% of the company's stock.