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 Stock Up 1.2 %

NYSE:WAL traded up $1.05 on Tuesday, hitting $86.44. 18,416 shares of the company were exchanged, compared to its average volume of 661,157. The company has a market cap of $9.36 billion, a PE ratio of 9.27, a PEG ratio of 0.77 and a beta of 1.42. Western Alliance Bancorporation has a 12 month low of $68.41 and a 12 month high of $124.93. The stock has a fifty day moving average of $74.90 and a 200-day moving average of $80.75. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31.

Western Alliance Bancorporation (NYSE:WAL - Get Rating) last issued its 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 net margin of 40.16% and a return on equity of 21.55%. The business had revenue of $628.20 million for the quarter, compared to analyst estimates of $585.26 million. During the same period in the prior year, the firm earned $2.29 earnings per share. As a group, analysts forecast 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 paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.35. The ex-dividend date is Thursday, August 11th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 15.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. DA Davidson reduced their price objective on shares of Western Alliance Bancorporation to $100.00 in a research note on Monday, July 25th. Wedbush upped their price objective on shares of Western Alliance Bancorporation to $85.00 in a research note on Friday, July 22nd. Truist Financial reduced their price objective on shares of Western Alliance Bancorporation to $95.00 in a research note on Tuesday, July 26th. Jefferies Financial Group reduced their price objective on shares of Western Alliance Bancorporation from $108.00 to $92.00 in a research note on Monday, July 11th. Finally, Piper Sandler reduced their price objective on shares of Western Alliance Bancorporation to $105.00 in a research note 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.86.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons acquired 2,000 shares of the company's stock in a transaction on Friday, June 10th. The shares were purchased at an average cost of $77.22 per share, with a total value of $154,440.00. Following the completion of the purchase, 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 SEC, which can be accessed through this hyperlink. Insiders own 2.57% of the company's stock.