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

Western Alliance Bancorporation (NYSE:WAL) has received an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $60.00.

A number of equities analysts recently issued reports on WAL shares. Wedbush restated an “outperform” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, July 16th. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 29th.

WAL stock traded down $0.41 during midday trading on Thursday, reaching $46.92. The stock had a trading volume of 1,130,447 shares, compared to its average volume of 820,947. The stock has a market cap of $4.90 billion, a PE ratio of 11.35, a P/E/G ratio of 0.88 and a beta of 1.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a fifty day simple moving average of $44.75 and a two-hundred day simple moving average of $44.54. Western Alliance Bancorporation has a 52-week low of $37.39 and a 52-week high of $60.01.



Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. The company had revenue of $267.30 million during the quarter, compared to analyst estimates of $274.37 million. Western Alliance Bancorporation had a return on equity of 17.76% and a net margin of 39.87%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. On average, sell-side analysts predict that Western Alliance Bancorporation will post 4.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 24.15%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAL. Davis Capital Partners LLC raised its stake in shares of Western Alliance Bancorporation by 200.0% during the 1st quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock valued at $61,560,000 after buying an additional 1,000,000 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 123.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,566,801 shares of the financial services provider’s stock valued at $70,068,000 after buying an additional 865,456 shares during the last quarter. BlackRock Inc. raised its stake in shares of Western Alliance Bancorporation by 6.9% during the 2nd quarter. BlackRock Inc. now owns 5,209,279 shares of the financial services provider’s stock valued at $232,958,000 after buying an additional 334,241 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Western Alliance Bancorporation by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,702,713 shares of the financial services provider’s stock valued at $344,465,000 after buying an additional 296,647 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Western Alliance Bancorporation by 21.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,412,425 shares of the financial services provider’s stock valued at $63,164,000 after buying an additional 250,004 shares during the last quarter. Institutional investors and hedge funds own 83.69% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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