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

Shares of Western Alliance Bancorporation (NYSE:WALGet Free Report) have received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $63.59.

A number of brokerages recently commented on WAL. Barclays began coverage on Western Alliance Bancorporation in a research report on Friday, March 8th. They issued an “overweight” rating and a $91.00 target price for the company. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Citigroup boosted their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Truist Financial reaffirmed a “buy” rating and issued a $80.00 target price on shares of Western Alliance Bancorporation in a research report on Monday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st.

Check Out Our Latest Stock Report on WAL

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Western Alliance Bancorporation by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock valued at $460,724,000 after purchasing an additional 74,824 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Western Alliance Bancorporation by 7.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,058,243 shares of the financial services provider’s stock valued at $360,829,000 after purchasing an additional 402,614 shares during the period. BlackRock Inc. grew its holdings in Western Alliance Bancorporation by 12.5% during the second quarter. BlackRock Inc. now owns 5,410,343 shares of the financial services provider’s stock valued at $197,315,000 after purchasing an additional 601,129 shares during the period. Wellington Management Group LLP grew its holdings in Western Alliance Bancorporation by 21.5% during the first quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock valued at $411,724,000 after purchasing an additional 880,430 shares during the period. Finally, State Street Corp grew its holdings in Western Alliance Bancorporation by 44.4% during the first quarter. State Street Corp now owns 4,056,477 shares of the financial services provider’s stock valued at $144,167,000 after purchasing an additional 1,246,855 shares during the period. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Down 2.0 %

Shares of NYSE:WAL opened at $61.21 on Wednesday. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 9.36 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The business’s 50-day moving average is $60.82 and its 200-day moving average is $55.35. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last announced its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $705.97 million. During the same period in the prior year, the firm earned $2.67 earnings per share. Equities research analysts predict that Western Alliance Bancorporation will post 7.9 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 22.63%.

Western Alliance Bancorporation Company Profile

(Get Free Report

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.

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Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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