Western Alliance Bancorporation (NYSE:WAL) Given New $107.00 Price Target at Barclays

Western Alliance Bancorporation (NYSE:WAL - Free Report) had its target price raised by Barclays from $105.00 to $107.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

WAL has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a "hold" rating to a "buy" rating and increased their target price for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Piper Sandler dropped their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Wedbush boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Finally, Bank of America lifted their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.73.

Western Alliance Bancorporation Trading Down 0.5 %

Shares of WAL traded down $0.48 during mid-day trading on Friday, reaching $89.87. 1,049,806 shares of the company's stock traded hands, compared to its average volume of 1,320,843. The stock's 50-day moving average is $84.55 and its two-hundred day moving average is $73.29. Western Alliance Bancorporation has a 12 month low of $43.20 and a 12 month high of $96.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market cap of $9.89 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.51 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). The company had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Research analysts forecast that Western Alliance Bancorporation will post 7.13 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 23.46%.

Insiders Place Their Bets

In related news, insider Barbara Kennedy sold 11,083 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert P. Latta sold 2,996 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares of the company's stock, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.75% of the company's stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Western Alliance Bancorporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider's stock valued at $670,170,000 after purchasing an additional 395,101 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Western Alliance Bancorporation by 1,706.9% during the 1st quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider's stock valued at $1,983,000 after acquiring an additional 29,188 shares during the last quarter. M&G Plc boosted its position in shares of Western Alliance Bancorporation by 12.4% during the 2nd quarter. M&G Plc now owns 133,670 shares of the financial services provider's stock valued at $8,421,000 after acquiring an additional 14,734 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Western Alliance Bancorporation by 1.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider's stock valued at $102,603,000 after purchasing an additional 20,254 shares during the period. Finally, First Hawaiian Bank acquired a new stake in Western Alliance Bancorporation during the second quarter worth about $474,000. Institutional investors and hedge funds own 79.15% of the company's stock.

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.