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.

Western Alliance Bancorporation Trading Down 1.2 %

WAL traded down $1.04 on Monday, hitting $84.49. 5,318 shares of the company were exchanged, compared to its average volume of 844,022. The firm has a fifty day simple moving average of $74.82 and a two-hundred day simple moving average of $80.82. 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 has a 12 month low of $68.41 and a 12 month high of $124.93. The stock has a market capitalization of $9.15 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.77 and a beta of 1.42.

Western Alliance Bancorporation (NYSE:WAL - Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates 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 firm 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. Sell-side analysts expect that Western Alliance Bancorporation will post 10.03 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced 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. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.70%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 15.64%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WAL. Wedbush raised their price target on shares of Western Alliance Bancorporation to $85.00 in a research note on Friday, July 22nd. Truist Financial dropped their price target on Western Alliance Bancorporation to $95.00 in a research note on Tuesday, July 26th. Piper Sandler dropped their price target on Western Alliance Bancorporation to $105.00 in a research note on Friday, May 20th. DA Davidson lowered their target price on Western Alliance Bancorporation to $100.00 in a research note on Monday, July 25th. Finally, Jefferies Financial Group dropped their price target on 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $108.86.

Insider Transactions at Western Alliance Bancorporation

In related news, CFO Dale Gibbons bought 2,000 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average cost of $77.22 per share, for a total transaction of $154,440.00. Following the completion of the transaction, the chief financial officer now owns 258,365 shares of the company's stock, valued at $19,950,945.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.57% of the company's stock.