Western Alliance Bancorporation (NYSE:WAL) Given Average Rating of "Moderate Buy" by Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $96.40.

A number of analysts recently weighed in on WAL shares. Barclays lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Stephens restated an "overweight" rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Piper Sandler raised their price objective 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 Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently added to or reduced their stakes in WAL. Nomura Asset Management Co. Ltd. lifted its holdings in Western Alliance Bancorporation by 196.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 920 shares of the financial services provider's stock worth $80,000 after buying an additional 610 shares during the period. Barclays PLC lifted its position in shares of Western Alliance Bancorporation by 2.9% in the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock worth $10,674,000 after purchasing an additional 3,421 shares during the period. M&T Bank Corp increased its position in shares of Western Alliance Bancorporation by 8.9% during the third quarter. M&T Bank Corp now owns 5,626 shares of the financial services provider's stock worth $487,000 after buying an additional 460 shares during the period. Geode Capital Management LLC lifted its holdings in Western Alliance Bancorporation by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock valued at $162,701,000 after buying an additional 120,729 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Western Alliance Bancorporation by 42.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,561 shares of the financial services provider's stock valued at $3,508,000 after acquiring an additional 11,991 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

WAL stock traded up $1.12 during trading on Friday, hitting $66.36. 124,741 shares of the stock traded hands, compared to its average volume of 1,287,181. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a 50 day simple moving average of $77.48 and a 200 day simple moving average of $84.14.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping 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%. Equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.29%. Western Alliance Bancorporation's payout ratio is presently 21.41%.

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.