Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $95.1333.

WAL has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Western Alliance Bancorporation from $108.00 to $94.00 and set an “overweight” rating on the stock in a report on Thursday. Jefferies Financial Group restated an “overweight” rating and issued a $105.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. TD Cowen lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a research report on Monday, March 9th. Citigroup reduced their price target on Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Finally, Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $83.00 to $79.00 in a report on Monday, March 9th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Western Alliance Bancorporation by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock valued at $318,655,000 after purchasing an additional 58,535 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Western Alliance Bancorporation by 3.5% in the 3rd quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after purchasing an additional 81,386 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of Western Alliance Bancorporation by 14.5% in the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock worth $18,681,000 after buying an additional 27,329 shares during the last quarter. MidWestOne Financial Group Inc. increased its position in Western Alliance Bancorporation by 42.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock valued at $3,170,000 after buying an additional 10,887 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Western Alliance Bancorporation by 568.0% during the 3rd quarter. SG Americas Securities LLC now owns 17,355 shares of the financial services provider’s stock valued at $1,505,000 after buying an additional 14,757 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $72.10 on Friday. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $97.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. The company’s 50-day moving average is $81.36 and its 200 day moving average is $82.65. The stock has a market capitalization of $7.92 billion, a P/E ratio of 8.26, a P/E/G ratio of 0.63 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The company had revenue of $890.80 million during the quarter, compared to the consensus estimate of $912.69 million. During the same period in the prior year, the firm earned $1.95 earnings per share. Western Alliance Bancorporation’s revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.24%.

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.