Western Alliance Bancorporation (NYSE:WAL) Receives $94.75 Average Price Target from Brokerages

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $94.75.

WAL has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an "outperform" rating in a report on Friday, October 18th. Wedbush lifted their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 24th. Stephens restated an "overweight" rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Piper Sandler lowered their price objective on shares of 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. Finally, UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 target price for the company.

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently bought and sold shares of WAL. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $33,000. UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock worth $37,000 after acquiring an additional 249 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 187 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Western Alliance Bancorporation by 167.5% during the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 397 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 1.8 %

Shares of WAL stock traded up $1.50 on Friday, hitting $84.40. The stock had a trading volume of 790,528 shares, compared to its average volume of 760,514. 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 business has a 50 day moving average of $88.71 and a 200 day moving average of $81.07. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million during the quarter, compared to analysts' expectations of $811.40 million. As a group, analysts expect that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.80%. Western Alliance Bancorporation's dividend payout ratio is currently 23.46%.

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.