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

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $93.1429.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. iA Financial set a $101.00 price target on Western Alliance Bancorporation in a report on Wednesday, January 28th. UBS Group lifted their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup reduced their price target on Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday. Finally, DA Davidson reiterated a “buy” rating and set a $93.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, April 22nd.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $26,000. Quent Capital LLC bought a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $27,000. Root Financial Partners LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $27,000. Finally, Clearstead Advisors LLC grew its holdings in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.1%

Western Alliance Bancorporation stock opened at $79.56 on Thursday. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market capitalization of $8.65 billion, a P/E ratio of 9.26, a PEG ratio of 0.62 and a beta of 1.37. The stock has a 50-day simple moving average of $76.13 and a 200 day simple moving average of $81.53.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The business had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. During the same quarter last year, the company posted $1.79 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 31.0% on a year-over-year basis. Analysts expect that Western Alliance Bancorporation will post 9.96 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 issued a dividend of $0.42 per share. The ex-dividend date was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.56%.

Western Alliance Bancorporation Company Profile

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.