Western Alliance Bancorporation (NYSE:WAL) Stock Has Consensus Target Price of $92.18

Shares of Western Alliance Bancorporation (NYSE:WAL) have earned a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $92.18.

Several research firms recently commented on WAL. Stifel Nicolaus set a $95.00 price target on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Truist Financial dropped their price objective on shares of Western Alliance Bancorporation from $93.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $90.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, September 29th. Barclays increased their target price on shares of Western Alliance Bancorporation from $88.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, October 5th. Finally, Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Western Alliance Bancorporation during the 2nd quarter worth $926,898,000. Dimensional Fund Advisors LP lifted its position in shares of Western Alliance Bancorporation by 1.0% during 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 acquiring an additional 36,534 shares during the period. Davis Asset Management L.P. bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $274,219,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $174,329,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth $101,995,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $74.57 on Thursday. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.76 and a beta of 1.42. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The stock’s 50 day moving average is $78.14 and its 200-day moving average is $79.03.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly 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. The business had revenue of $995.70 million during the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. Equities research analysts expect that Western Alliance Bancorporation will post 9.06 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th 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 Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is 18.92%.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Western Alliance Bank, provides commercial and consumer banking services to businesses, institutions, entrepreneurs and individuals.

The company offers a range of financial products and services, including commercial and industrial loans, commercial real estate lending, residential mortgage warehouse financing, deposit accounts, treasury management, digital banking, payment services and personal banking products.