Western Alliance Bancorporation (NYSE:WAL) Stock Has Consensus Target Price of $95.47 According to Brokerages

Shares of Western Alliance Bancorporation (NYSE:WAL) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $93.65.

Several equities analysts recently weighed in on the stock. Stephens set a $95.00 price target on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Raymond James Financial assumed coverage on Western Alliance Bancorporation in a research note on Tuesday. They issued an “outperform” rating and a $90.00 price objective for the company. Piper Sandler raised their target price on Western Alliance Bancorporation from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Truist Financial lifted their target price 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.

Western Alliance Bancorporation Stock Performance

WAL opened at $77.70 on Friday. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.78 and a beta of 1.33. The company’s fifty day moving average price is $80.27 and its two-hundred day moving average price is $78.40. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93.

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

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were paid 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%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently bought and sold shares of WAL. BlackRock Inc. purchased a new stake in shares of Western Alliance Bancorporation in the second quarter valued at about $926,898,000. Dimensional Fund Advisors LP lifted its position in shares of Western Alliance Bancorporation by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock valued at $270,203,000 after purchasing an additional 36,534 shares in the last quarter. Davis Asset Management L.P. purchased a new position in Western Alliance Bancorporation during the second quarter worth about $274,219,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Western Alliance Bancorporation during the second quarter worth about $174,329,000. Finally, Smead Capital Management Inc. grew its position in Western Alliance Bancorporation by 16.8% in the 4th quarter. Smead Capital Management Inc. now owns 1,556,943 shares of the financial services provider’s stock worth $130,892,000 after purchasing an additional 223,707 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.