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 Price Performance

Western Alliance Bancorporation stock traded down $0.14 during midday trading on Monday, reaching $85.39. The company's stock had a trading volume of 406,855 shares, compared to its average volume of 841,205. Western Alliance Bancorporation has a fifty-two week low of $68.41 and a fifty-two week high of $124.93. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.99. The stock's 50 day simple moving average is $74.82 and its 200 day simple moving average is $80.82. The firm has a market capitalization of $9.25 billion, a PE ratio of 9.29, a P/E/G ratio of 0.77 and a beta of 1.42.

Western Alliance Bancorporation (NYSE:WAL - Get Rating) last released 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. The business had revenue of $628.20 million during the quarter, compared to the consensus estimate of $585.26 million. Western Alliance Bancorporation had a return on equity of 21.55% and a net margin of 40.16%. During the same quarter in the previous year, the company posted $2.29 EPS. On average, equities research analysts forecast that Western Alliance Bancorporation will post 10.03 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be paid a $0.36 dividend. This is an increase 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 yield of 1.69%. Western Alliance Bancorporation's payout ratio is presently 15.64%.

Analysts Set New Price Targets

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

Insider Activity at Western Alliance Bancorporation

In other news, CFO Dale Gibbons bought 2,000 shares of the business's stock in a transaction that occurred on Friday, June 10th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $19,950,945.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.57% of the stock is currently owned by corporate insiders.