Western Alliance Bancorporation (NYSE:WAL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $92.9286.

Several brokerages have issued reports on WAL. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. National Alliance Securities reissued a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, March 6th. DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Barclays lowered their price target on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Finally, Wells Fargo & Company raised shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $83.00 to $79.00 in a report on Monday, March 9th.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. The trade was a 63.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Western Alliance Bancorporation by 9.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider’s stock valued at $735,350,000 after purchasing an additional 777,369 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Western Alliance Bancorporation by 7.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider’s stock valued at $542,286,000 after purchasing an additional 470,492 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Western Alliance Bancorporation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock valued at $521,710,000 after purchasing an additional 197,854 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Western Alliance Bancorporation by 1.0% in the 1st 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. Finally, William Blair Investment Management LLC boosted its stake 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 valued at $207,670,000 after purchasing an additional 81,386 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.3%

Shares of WAL stock opened at $81.53 on Friday. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The firm’s fifty day simple moving average is $78.84 and its 200 day simple moving average is $81.96. The firm has a market capitalization of $8.90 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.34. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The business had revenue of $968.40 million for the quarter, compared to analyst estimates of $944.18 million. During the same quarter in the previous year, the firm posted $1.79 earnings per share. Western Alliance Bancorporation’s revenue was up 31.0% compared to the same quarter last year. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.8 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is 19.56%.

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.