Western Alliance Bancorporation (NYSE:WAL) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $92.27.

WAL has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an "outperform" rating in a research report on Friday. Barclays upped their target price on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, July 22nd. Piper Sandler set a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Western Alliance Bancorporation from $100.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a report on Tuesday, October 1st.

Western Alliance Bancorporation Stock Performance

NYSE WAL traded down $8.39 on Friday, hitting $85.53. 4,721,123 shares of the company's stock traded hands, compared to its average volume of 1,922,183. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $94.28. The firm's 50-day moving average price is $82.58 and its two-hundred day moving average price is $70.65. The firm has a market capitalization of $9.42 billion, a PE ratio of 13.20, a P/E/G ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.04. The business had revenue of $771.80 million during the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.42%. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 earnings per share. As a group, analysts expect that Western Alliance Bancorporation will post 7.39 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.73%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation's dividend payout ratio is currently 22.84%.

Insider Buying and Selling

In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the firm's stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the sale, the chief accounting officer now directly owns 3,520 shares of the company's stock, valued at $267,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the transaction, the chief accounting officer now directly owns 3,520 shares of the company's stock, valued at approximately $267,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,265 shares of company stock valued at $1,700,391. Corporate insiders own 2.75% of the company's stock.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors have recently modified their holdings of WAL. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the 1st quarter valued at $27,000. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $31,000. GAMMA Investing LLC grew its stake in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 183 shares during the period. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $33,000. Finally, ORG Partners LLC acquired a new position in Western Alliance Bancorporation in the second quarter valued at about $36,000. Institutional investors and hedge funds own 79.15% of the company's stock.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.