Analysts Set Western Alliance Bancorporation (NYSE:WAL) PT at $70.56

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $70.56.

WAL has been the subject of several research analyst reports. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Wedbush reduced their price target on shares of Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Stephens reissued an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a report on Friday, April 19th. Hovde Group started coverage on shares of Western Alliance Bancorporation in a report on Monday, April 22nd. They set an “outperform” rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, April 4th.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation during the first quarter worth $27,000. GAMMA Investing LLC increased 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 worth $32,000 after buying an additional 183 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 760 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $65,000. Finally, Fortitude Family Office LLC bought a new stake in Western Alliance Bancorporation during the fourth quarter valued at approximately $93,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $56.81 on Friday. The firm has a market cap of $6.26 billion, a PE ratio of 8.28 and a beta of 1.47. The firm’s 50-day simple moving average is $59.17 and its 200-day simple moving average is $57.29. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. During the same quarter in the prior year, the firm earned $2.30 EPS. Equities analysts forecast that Western Alliance Bancorporation will post 7.67 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, March 1st. Investors of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.61%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

About Western Alliance Bancorporation

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.