Analysts Set Western Alliance Bancorporation (NYSE:WAL) PT at $97.73
by Mitch Edgeman · The Markets DailyWestern Alliance Bancorporation (NYSE:WAL – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $95.1333.
A number of analysts have recently issued reports on WAL shares. Citigroup reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating for the company in a research report on Monday, March 9th. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $105.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. UBS Group set a $93.00 price objective on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group reissued an “overweight” rating and set a $105.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Finally, Barclays lowered their price target on shares of Western Alliance Bancorporation from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th.
Read Our Latest Research Report on WAL
Institutional Investors Weigh In On Western Alliance Bancorporation
Hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its stake in shares of Western Alliance Bancorporation by 73.2% in the 4th quarter. Hsbc Holdings PLC now owns 6,580 shares of the financial services provider’s stock valued at $553,000 after buying an additional 2,781 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Western Alliance Bancorporation by 8.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 260,229 shares of the financial services provider’s stock valued at $21,878,000 after acquiring an additional 19,581 shares in the last quarter. Corient Private Wealth LLC raised its position in Western Alliance Bancorporation by 134.9% during the fourth quarter. Corient Private Wealth LLC now owns 39,056 shares of the financial services provider’s stock valued at $3,283,000 after acquiring an additional 22,431 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $63,000. Finally, Virtu Financial LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter worth approximately $456,000. 79.15% of the stock is owned by hedge funds and other institutional investors.
Western Alliance Bancorporation Stock Down 0.4%
NYSE:WAL opened at $72.10 on Friday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 0.63 and a beta of 1.37. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $97.23. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average price is $81.66 and its 200 day moving average price is $82.80.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 EPS 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 firm had revenue of $890.80 million during the quarter, compared to analyst estimates of $912.69 million. During the same period last year, the company posted $1.95 EPS. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.
Western Alliance Bancorporation Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were paid a $0.42 dividend. The ex-dividend date was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Western Alliance Bancorporation’s payout ratio is 19.24%.
About Western Alliance Bancorporation
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.