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

Western Alliance Bancorporation (NYSE:WAL) has earned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $97.7333.

A number of brokerages have recently commented on WAL. UBS Group set a $93.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Tuesday, March 10th. Jefferies Financial Group reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, March 6th. TD Cowen lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 target price for the company. in a research report on Monday, March 9th. Truist Financial set a $98.00 target price on Western Alliance Bancorporation in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $105.00 price target (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th.

Western Alliance Bancorporation Stock Down 3.5%

Shares of NYSE WAL opened at $67.70 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $83.11 and a 200-day moving average of $83.26. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.59 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.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share 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 business had revenue of $890.80 million for the quarter, compared to the consensus estimate of $912.69 million. During the same period last year, the firm posted $1.95 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.24%.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently bought and sold shares of WAL. Hsbc Holdings PLC grew its position in Western Alliance Bancorporation by 73.2% during the fourth quarter. Hsbc Holdings PLC now owns 6,580 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 2,781 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Western Alliance Bancorporation by 8.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 260,229 shares of the financial services provider’s stock worth $21,878,000 after acquiring an additional 19,581 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Western Alliance Bancorporation by 134.9% in the 4th quarter. Corient Private Wealth LLC now owns 39,056 shares of the financial services provider’s stock valued at $3,283,000 after purchasing an additional 22,431 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at $63,000. Finally, Virtu Financial LLC bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at $456,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

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.