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

Shares of Western Alliance Bancorporation (NYSE:WAL) have earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $94.00.

A number of brokerages have recently weighed in on WAL. Barclays cut their price objective on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler dropped their price target on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. UBS Group raised their target price on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th.

Insider Buying and Selling

In related news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC increased its position in Western Alliance Bancorporation by 71.2% in the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after buying an additional 3,249 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Western Alliance Bancorporation by 513.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,448 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Western Alliance Bancorporation by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after acquiring an additional 21,642 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Western Alliance Bancorporation by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after purchasing an additional 35,276 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Western Alliance Bancorporation by 11.3% during the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after buying an additional 713 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

NYSE WAL traded up $0.68 during trading on Tuesday, reaching $80.69. The company’s stock had a trading volume of 602,935 shares, compared to its average volume of 1,060,134. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a market capitalization of $8.81 billion, a PE ratio of 9.39, a P/E/G ratio of 0.73 and a beta of 1.34. The firm has a fifty day moving average of $79.99 and a 200 day moving average of $81.48.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The firm had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 EPS. Analysts expect that Western Alliance Bancorporation will post 9.49 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.56%.

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.