Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Western Alliance Bancorporation (NYSE:WAL) has earned an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $92.73.

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Truist Financial decreased their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Barclays lifted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

Western Alliance Bancorporation Stock Down 0.0 %

Western Alliance Bancorporation stock opened at $89.12 on Thursday. The stock’s fifty day moving average is $86.31 and its two-hundred day moving average is $75.18. The stock has a market cap of $9.81 billion, a PE ratio of 13.75, a P/E/G ratio of 1.40 and a beta of 1.44. Western Alliance Bancorporation has a 1-year low of $47.60 and a 1-year high of $96.45. 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 (NYSE:WAL) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. This trade represents a 42.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the third quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter valued at $33,000. ORG Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth $36,000. Finally, UMB Bank n.a. boosted its position in shares of 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 buying an additional 249 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.