Analysts Set Western Alliance Bancorporation (NYSE:WAL) Price Target at $98.07

Western Alliance Bancorporation (NYSE:WAL) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $98.07.

A number of equities research analysts have weighed in on WAL shares. JPMorgan Chase & Co. reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. DA Davidson cut their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Piper Sandler lifted 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.

Western Alliance Bancorporation Stock Up 0.1 %

Shares of WAL opened at $80.59 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.63 and a beta of 1.43. The stock has a fifty day moving average of $85.04 and a 200-day moving average of $86.06.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share 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. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAL. Wealth Enhancement Advisory Services LLC grew its position in Western Alliance Bancorporation by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 166 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $5,973,000. Forum Financial Management LP raised its holdings in shares of Western Alliance Bancorporation by 22.0% in the 4th quarter. Forum Financial Management LP now owns 3,605 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 650 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Western Alliance Bancorporation by 2.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 63,161 shares of the financial services provider’s stock valued at $5,276,000 after acquiring an additional 1,247 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock valued at $151,604,000 after purchasing an additional 648,983 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.