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

Western Alliance Bancorporation (NYSE:WAL) has earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $103.40.

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on Western Alliance Bancorporation from $104.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday. TD Cowen dropped their target price on shares of Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. DA Davidson upped their target price on Western Alliance Bancorporation from $104.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Weiss Ratings upgraded Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $73.94 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $97.23. The company has a fifty day moving average of $88.58 and a 200-day moving average of $85.29. The firm has a market capitalization of $8.12 billion, a P/E ratio of 8.47, a P/E/G ratio of 0.63 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.19. The business had revenue of $890.80 million for the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. Western Alliance Bancorporation’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 earnings per share. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, February 20th. Western Alliance Bancorporation’s payout ratio is 19.24%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently modified their holdings of WAL. Halbert Hargrove Global Advisors LLC purchased a new position in Western Alliance Bancorporation in the third quarter valued at approximately $26,000. Quent Capital LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at $27,000. Root Financial Partners LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $27,000. Finally, Clearstead Advisors LLC grew its stake in shares of 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 acquiring an additional 243 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.