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

Western Alliance Bancorporation (NYSE:WAL) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $103.7333.

A number of analysts have weighed in on the stock. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday, February 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research note on Monday, December 29th. TD Cowen dropped their price target on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Finally, Truist Financial set a $98.00 price objective on Western Alliance Bancorporation in a research report on Friday, January 9th.

Institutional Trading of Western Alliance Bancorporation

A number of large investors have recently modified their holdings of WAL. Quadrant Capital Group LLC boosted its stake in Western Alliance Bancorporation by 1.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock valued at $505,000 after buying an additional 113 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Western Alliance Bancorporation by 4.6% in the 4th quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 133 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in Western Alliance Bancorporation by 1.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider’s stock valued at $1,242,000 after acquiring an additional 138 shares during the last quarter. EJF Capital LLC boosted its position in shares of Western Alliance Bancorporation by 2.5% during the 2nd quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 149 shares in the last quarter. Finally, Salzhauer Michael grew its stake in shares of Western Alliance Bancorporation by 0.3% in the 3rd quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider’s stock worth $3,886,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 2.3%

NYSE:WAL opened at $79.54 on Wednesday. The business’s 50-day moving average is $89.05 and its two-hundred day moving average is $85.36. The firm has a market capitalization of $8.74 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $97.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The company had revenue of $980.90 million for the quarter, compared to analyst estimates of $912.69 million. During the same quarter last year, the firm posted $1.95 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Western Alliance Bancorporation’s payout ratio is 19.24%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.