Western Alliance Bancorporation (NYSE:WAL) Receives “Overweight” Rating from Stephens

Stephens reissued their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $82.00 price objective on the financial services provider’s stock.

A number of other research firms have also weighed in on WAL. Citigroup lifted their price objective on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a buy rating in a research report on Monday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating on the stock in a research report on Thursday, April 4th. StockNews.com lowered shares of Western Alliance Bancorporation from a hold rating to a sell rating in a research report on Saturday, March 9th. Truist Financial reiterated a buy rating and issued a $80.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. Finally, Wedbush lowered their price objective on shares of Western Alliance Bancorporation from $75.00 to $70.00 and set an outperform rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $71.36.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $57.42 on Friday. The firm’s fifty day simple moving average is $59.50 and its 200-day simple moving average is $56.41. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 8.37 and a beta of 1.47. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. During the same period in the previous year, the company posted $2.30 EPS. As a group, equities analysts forecast that Western Alliance Bancorporation will post 7.88 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Guggenheim Capital LLC raised its stake in shares of Western Alliance Bancorporation by 3.2% during the 1st quarter. Guggenheim Capital LLC now owns 4,831 shares of the financial services provider’s stock worth $400,000 after buying an additional 151 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after buying an additional 183 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Western Alliance Bancorporation by 1.1% during the 1st quarter. Utah Retirement Systems now owns 18,511 shares of the financial services provider’s stock worth $1,534,000 after buying an additional 200 shares during the last quarter. Riverwater Partners LLC raised its stake in Western Alliance Bancorporation by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock valued at $1,920,000 after purchasing an additional 211 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in Western Alliance Bancorporation by 33.8% in the 2nd quarter. Harbour Investments Inc. now owns 931 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.