Western Alliance Bancorporation (NYSE:WAL) Stock Has Consensus Price Target of $92.18

Western Alliance Bancorporation (NYSE:WAL) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $92.59.

Several research firms have issued reports on WAL. Keefe, Bruyette & Woods cut their price objective on Western Alliance Bancorporation from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Truist Financial cut their price target on shares of Western Alliance Bancorporation from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Finally, Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $90.00 to $84.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 29th.

More Western Alliance Bancorporation News

Here are the key news stories impacting Western Alliance Bancorporation this week:

• Positive Sentiment: Q3 results exceeded expectations. Western Alliance reported earnings of $2.45 per share versus the $2.43 consensus estimate, while revenue reached $1.01 billion, above expectations of approximately $988 million. Revenue increased 8.1% year over year, helping ease concerns about the bank’s operating performance. Western Alliance beats Q3 estimates on higher revenue
• Positive Sentiment: Credit quality improved. Nonaccrual loans fell 14% sequentially to $485 million, while recent coverage described the earnings release as easing credit fears. Lower problem loans could reduce future provisioning pressure and support profitability. Western Alliance: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Deposit optimization may improve margins. The bank shifted $3 billion of higher-cost deposits during the third quarter and raised its optimization target to at least $5 billion. Management projects 11%–12% net interest income growth, a potential catalyst for earnings. Western Alliance projects net interest income growth

Institutional Investors Weigh In On Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Western Alliance Bancorporation during the 2nd quarter valued at $174,329,000. Focus Partners Advisor Solutions LLC acquired a new stake in Western Alliance Bancorporation in the 2nd quarter worth $1,877,000. Independent Financial Group LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter worth $924,000. Bank of America Corp DE acquired a new stake in Western Alliance Bancorporation in the 2nd quarter worth $96,977,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Western Alliance Bancorporation by 134.8% during the 2nd quarter. Hsbc Holdings PLC now owns 113,570 shares of the financial services provider’s stock worth $9,333,000 after purchasing an additional 65,204 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $75.47 on Thursday. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The firm’s 50-day simple moving average is $77.73 and its 200 day simple moving average is $79.17. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 0.87. The stock has a market cap of $8.23 billion, a P/E ratio of 8.34, a P/E/G ratio of 0.77 and a beta of 1.42.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.91 million. Western Alliance Bancorporation had a return on equity of 13.50% and a net margin of 17.34%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 earnings per share. Equities analysts expect that Western Alliance Bancorporation will post 9.06 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is presently 18.56%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation (NYSE:WAL) is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs, and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, construction loans, residential mortgage warehouse lending, and consumer banking services. Its deposit products include checking, savings, money market, and time deposit accounts, while its other services include treasury management, online banking, payments, and wealth management solutions.

The bank serves customers through a combination of regional banking divisions and specialized businesses, with operations focused on markets including Arizona, California, and Nevada as well as nationwide industry-based lending and financial services.