Western Alliance Bancorporation (NYSE:WAL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $98.07.

WAL has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target for the company. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Western Alliance Bancorporation by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 166 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $5,973,000. Forum Financial Management LP increased its holdings in shares of Western Alliance Bancorporation by 22.0% in the 4th quarter. Forum Financial Management LP now owns 3,605 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 650 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Western Alliance Bancorporation by 2.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 63,161 shares of the financial services provider’s stock valued at $5,276,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock valued at $151,604,000 after acquiring an additional 648,983 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 1.0 %

NYSE WAL opened at $77.39 on Wednesday. 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 firm’s fifty day moving average price is $85.08 and its 200 day moving average price is $86.04. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

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.