Western Alliance Bancorporation (NYSE:WAL) Receives $98.07 Consensus PT from Brokerages

Shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) have received an average rating of "Moderate Buy" from the fifteen research firms that are presently covering the firm, 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 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $98.07.

WAL has been the topic of a number of recent analyst reports. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. UBS Group assumed coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd.

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Western Alliance Bancorporation Stock Up 1.0 %

Western Alliance Bancorporation stock traded up $0.78 during midday trading on Wednesday, hitting $77.39. 2,011,051 shares of the company were exchanged, compared to its average volume of 1,153,873. The company's fifty day moving average price is $85.08 and its 200-day moving average price is $85.96. The company has a market cap of $8.55 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10.

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

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of large investors have recently made changes to their positions in WAL. Price T Rowe Associates Inc. MD increased its stake in Western Alliance Bancorporation by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock valued at $498,612,000 after buying an additional 154,575 shares during the period. Invesco Ltd. grew its position in Western Alliance Bancorporation by 5.1% in the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after acquiring an additional 278,041 shares in the last quarter. State Street Corp grew its position in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock worth $388,197,000 after acquiring an additional 1,418,472 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Western Alliance Bancorporation by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock worth $298,887,000 after acquiring an additional 22,942 shares in the last quarter. Finally, FMR LLC grew its position in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. 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.