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

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $98.07.

A number of analysts recently issued reports on WAL shares. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. DA Davidson lowered their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays lifted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock.

Western Alliance Bancorporation Stock Performance

WAL opened at $87.00 on Friday. The business’s 50-day moving average price is $86.80 and its two-hundred day moving average price is $86.13. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.63 and a beta of 1.46. 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 released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (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%. 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. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.75%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.41%.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of large investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its stake in shares of Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 114 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp increased its stake in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc increased its stake in shares of Western Alliance Bancorporation by 13.4% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 157 shares during the period. Finally, MidWestOne Financial Group Inc. increased its stake in shares of Western Alliance Bancorporation by 0.6% during the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider’s stock worth $2,226,000 after purchasing an additional 160 shares during the period. 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.