Analysts Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $94.82

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eleven 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 $94.8235.

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Truist Financial boosted their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. TD Cowen upped their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Barclays decreased their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd.

Western Alliance Bancorporation Trading Up 2.9%

NYSE WAL opened at $82.86 on Friday. The firm has a market capitalization of $9.05 billion, a PE ratio of 9.33, a P/E/G ratio of 0.78 and a beta of 1.34. The stock’s 50 day moving average is $81.08 and its 200 day moving average is $80.89. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.36. The business had revenue of $995.70 million during the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 earnings per share. Research analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be paid a $0.42 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio is presently 18.92%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. The trade was a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in shares of Western Alliance Bancorporation by 71.2% in the 1st quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 3,249 shares during the last quarter. Jones Financial Companies Lllp grew its position in Western Alliance Bancorporation by 513.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Western Alliance Bancorporation by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after purchasing an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 in the last quarter. Finally, Cetera Investment Advisers increased its stake in Western Alliance Bancorporation by 11.3% during the 2nd quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 713 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.