Brokerages Set Western Alliance Bancorporation (NYSE:WAL) Price Target at $84.27

Western Alliance Bancorporation (NYSE:WAL) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $84.27.

Several equities analysts recently commented on the company. Barclays upped their target price on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Jefferies Financial Group lifted their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, DA Davidson reduced their price objective on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $73.37 on Tuesday. The stock has a market capitalization of $8.08 billion, a P/E ratio of 10.70, a P/E/G ratio of 1.41 and a beta of 1.45. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $82.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s 50-day moving average is $67.27 and its two-hundred day moving average is $62.97.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The firm had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. Western Alliance Bancorporation’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. Equities analysts predict that Western Alliance Bancorporation will post 7.36 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.57%.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the sale, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at $267,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,186 shares of company stock valued at $612,410. Corporate insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the 1st quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in shares of Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $36,000. Chilton Capital Management LLC acquired a new stake in Western Alliance Bancorporation in the second quarter worth about $54,000. Finally, Rakuten Securities Inc. bought a new position in Western Alliance Bancorporation in the 4th quarter valued at about $65,000. Institutional investors 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.