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

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

A number of equities research analysts recently weighed in on the company. Stephens set a $95.00 price target on Western Alliance Bancorporation and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Mizuho set a $96.00 price objective on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. TD Cowen increased their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, Citigroup lifted their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th.

Insider Activity

In other news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 of the company’s stock, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in Western Alliance Bancorporation by 1.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 113 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Western Alliance Bancorporation by 4.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 134 shares during the period. Truist Financial Corp grew its position in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 152 shares in the last quarter. Allworth Financial LP grew its position in shares of Western Alliance Bancorporation by 39.3% during the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 157 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Western Alliance Bancorporation by 2.4% during the fourth quarter. Arkadios Wealth Advisors now owns 8,134 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 187 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $77.29 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. The stock has a 50 day moving average price of $81.21 and a 200 day moving average price of $79.42. The stock has a market capitalization of $8.43 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 0.75 and a beta of 1.33. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced 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. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $980.53 million. During the same quarter in the prior year, the business posted $2.07 EPS. The business’s revenue was up 17.7% compared to the same quarter last year. Analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.68 annualized dividend and a yield of 2.2%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.92%.

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.