Western Alliance Bancorporation (NYSE:WAL) Receives $95.47 Average Price Target from Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $95.00.

WAL has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Citigroup cut their price objective on shares of Western Alliance Bancorporation from $98.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday. Raymond James Financial assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday. They issued an “outperform” rating and a $90.00 price objective for the company. DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. increased their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd.

Western Alliance Bancorporation Trading Down 1.1%

Shares of Western Alliance Bancorporation stock opened at $77.81 on Friday. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The stock’s 50-day simple moving average is $80.64 and its 200 day simple moving average is $78.42. The stock has a market capitalization of $8.49 billion, a P/E ratio of 8.76, a P/E/G ratio of 0.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86.

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

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is presently 18.92%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at $174,329,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $1,877,000. Independent Financial Group LLC bought a new stake in shares of Western Alliance Bancorporation during the 1st quarter valued at about $924,000. GSA Capital Partners LLP bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $2,051,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Western Alliance Bancorporation by 635.0% during the first quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider’s stock worth $3,409,000 after purchasing an additional 41,786 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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 and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners’ associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.