JPMorgan Chase & Co. Lowers Western Alliance Bancorporation (NYSE:WAL) Price Target to $105.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective cut by JPMorgan Chase & Co. from $107.00 to $105.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Piper Sandler set a $102.00 price objective on Western Alliance Bancorporation in a research note on Friday, October 18th. Barclays boosted their target price on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.60.

Western Alliance Bancorporation Stock Up 1.9 %

WAL opened at $83.88 on Monday. The company has a market capitalization of $9.23 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s fifty day moving average price is $83.04 and its two-hundred day moving average price is $71.03. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $94.28.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. Western Alliance Bancorporation’s payout ratio is 22.84%.

Insider Transactions at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares in the company, valued at $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,149 shares of company stock worth $1,539,681 over the last 90 days. 2.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in shares of Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock worth $1,911,000 after buying an additional 164 shares during the period. GAMMA Investing LLC grew its holdings in Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. increased its stake in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares in the last quarter. Versant Capital Management Inc raised its holdings in Western Alliance Bancorporation by 26.5% in the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 244 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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 through Commercial and Consumer Related 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; demand deposits; and treasury management and residential mortgage products and services.