Analysts Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $103.73

Western Alliance Bancorporation (NYSE:WAL) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $103.7333.

WAL has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. TD Cowen reduced their price objective on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating for the company in a research report on Wednesday, January 7th. Barclays restated an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Monday, February 2nd. Finally, Jefferies Financial Group boosted their price target on Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $96.10 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $87.67 and its two-hundred day moving average price is $84.22. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $96.99. The stock has a market capitalization of $10.58 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.80 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The business had revenue of $980.90 million for the quarter, compared to analysts’ expectations of $912.69 million. During the same period in the prior year, the firm earned $1.95 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.68 annualized dividend and a yield of 1.7%. Western Alliance Bancorporation’s dividend payout ratio is presently 19.24%.

Institutional Trading of Western Alliance Bancorporation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth $26,000. Quent Capital LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $27,000. Root Financial Partners LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter worth about $27,000. Finally, Clearstead Advisors LLC raised its holdings in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after buying an additional 243 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.