Western Alliance Bancorporation (NYSE:WAL) Receives $98.07 Average PT from Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $98.07.

A number of equities research analysts have weighed in on WAL shares. Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th.

Western Alliance Bancorporation Trading Up 1.0 %

Shares of NYSE:WAL opened at $87.00 on Friday. The company has a market capitalization of $9.58 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business’s 50 day simple moving average is $86.80 and its 200 day simple moving average is $86.13.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Western Alliance Bancorporation during the 4th quarter worth $5,973,000. Forum Financial Management LP raised its position in Western Alliance Bancorporation by 22.0% during the 4th quarter. Forum Financial Management LP now owns 3,605 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 650 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Western Alliance Bancorporation by 2.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 63,161 shares of the financial services provider’s stock worth $5,276,000 after purchasing an additional 1,247 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after purchasing an additional 648,983 shares during the last quarter. Finally, MidWestOne Financial Group Inc. raised its position in Western Alliance Bancorporation by 0.6% during the 4th quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider’s stock worth $2,226,000 after purchasing an additional 160 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.