Analysts Set Western Alliance Bancorporation (NYSE:WAL) Price Target at $103.73

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.7333.

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Citigroup boosted their target price on Western Alliance Bancorporation from $104.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Truist Financial set a $98.00 price target on Western Alliance Bancorporation in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research note on Monday, December 29th. Finally, TD Cowen lowered their target price on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $94.78 on Friday. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 0.81 and a beta of 1.37. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $97.23. The stock’s 50 day moving average price is $88.13 and its two-hundred day moving average price is $84.39. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.79 and a current ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 26th. The financial services provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.19. The company had revenue of $980.90 million during the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. Western Alliance Bancorporation’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. On average, equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, February 20th. This represents a $1.68 annualized dividend and a yield of 1.8%. Western Alliance Bancorporation’s dividend payout ratio is presently 19.24%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently made changes to their positions in WAL. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Western Alliance Bancorporation by 7.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider’s stock valued at $542,286,000 after acquiring an additional 470,492 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth approximately $68,000. Janney Montgomery Scott LLC raised its stake in shares of Western Alliance Bancorporation by 36.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,319 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 880 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $362,000. Finally, Cerity Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $625,000. 79.15% of the stock is owned by 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.