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

Shares of Western Alliance Bancorporation (NYSE:WAL) have received an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $94.8235.

WAL has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Citigroup lifted their price target on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, June 25th. TD Cowen increased their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a report on Monday, July 27th. JPMorgan Chase & Co. raised their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a report on Thursday, July 23rd.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $82.98 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The business has a 50-day moving average price of $81.26 and a 200-day moving average price of $80.82. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.81 and a beta of 1.34.

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

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is 18.92%.

Insider Transactions at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAL. Clearstead Advisors LLC raised its position in Western Alliance Bancorporation by 144.6% during the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $38,000. Assetmark Inc. increased its position in shares of Western Alliance Bancorporation by 86.0% during the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 259 shares during the last quarter. Compound Global Advisors LLC purchased a new stake in Western Alliance Bancorporation during the 2nd quarter valued at $41,000. Finally, Leonteq Securities AG purchased a new stake in Western Alliance Bancorporation during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.