Western Alliance Bancorporation (NYSE:WAL) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $98.07.

WAL has been the topic of several recent analyst reports. DA Davidson decreased their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, Piper Sandler boosted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $11,461,000. Franklin Resources Inc. grew its position in Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after acquiring an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $5,099,000. BNP Paribas Financial Markets raised its stake in shares of Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider's stock worth $2,947,000 after acquiring an additional 31,214 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $3,612,000. 79.15% of the stock is currently owned by institutional investors.

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Western Alliance Bancorporation Stock Performance

Shares of WAL stock traded down $0.66 during midday trading on Friday, hitting $85.35. 1,502,204 shares of the company were exchanged, compared to its average volume of 1,216,485. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The firm has a market capitalization of $9.39 billion, a P/E ratio of 12.02, a PEG ratio of 0.63 and a beta of 1.46. The firm's 50 day moving average price is $86.64 and its two-hundred day moving average price is $86.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.78%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 21.41%.

Western Alliance Bancorporation Company Profile

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.