Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Western Alliance Bancorporation (NYSE:WAL) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $93.40.

WAL has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Barclays boosted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Truist Financial lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, October 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at approximately $36,000. UMB Bank n.a. raised its position in Western Alliance Bancorporation by 136.8% in the 3rd 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 during the last quarter. Finally, Blue Trust Inc. raised its position in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $89.70 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company has a market cap of $9.87 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. The firm has a fifty day moving average price of $89.09 and a two-hundred day moving average price of $78.74. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Analysts expect that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is presently 23.46%.

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.