Analysts Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $95.47

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $95.4706.

WAL has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Friday, August 21st. Mizuho set a $96.00 price target on Western Alliance Bancorporation in a research note on Thursday, July 23rd. Citigroup increased their price objective on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Truist Financial raised their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd.

Insider Buying and Selling

In other Western Alliance Bancorporation 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 sale, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new position in Western Alliance Bancorporation during the 2nd quarter valued at approximately $26,000. Clearstead Advisors LLC boosted its holdings in Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter worth $38,000. Assetmark Inc. grew its stake in shares of Western Alliance Bancorporation by 86.0% in the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 259 shares during the last quarter. Finally, Compound Global Advisors LLC purchased a new stake in shares of Western Alliance Bancorporation in the second quarter worth $41,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $78.72 on Wednesday. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The stock has a market capitalization of $8.59 billion, a P/E ratio of 8.86, a P/E/G ratio of 0.76 and a beta of 1.34. The company’s 50-day moving average is $81.29 and its 200 day moving average is $79.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting the consensus estimate of $2.36. The business 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%. Western Alliance Bancorporation’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.92%.

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.