Western Alliance Bancorporation (NYSE:WAL) Rating Reiterated by Stephens

Stephens restated their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note published on Friday, Benzinga reports. They currently have a $82.00 price target on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company dropped their price target on Western Alliance Bancorporation from $72.00 to $68.00 and set an equal weight rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an outperform rating and issued a $78.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 9th. Jefferies Financial Group dropped their price target on Western Alliance Bancorporation from $80.00 to $70.00 and set a buy rating on the stock in a research note on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating on the stock in a research report on Thursday, April 4th. Finally, DA Davidson reaffirmed a buy rating and set a $85.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of Moderate Buy and a consensus target price of $70.88.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $58.71 on Friday. Western Alliance Bancorporation has a one year low of $11.35 and a one year high of $70.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The stock’s 50 day moving average is $59.41 and its 200 day moving average is $56.71. The firm has a market cap of $6.47 billion, a P/E ratio of 8.56 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. During the same period in the previous year, the firm earned $2.30 earnings per share. As a group, research analysts expect that Western Alliance Bancorporation will post 7.87 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.52%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC bought a new position in Western Alliance Bancorporation in the 4th quarter valued at $12,387,000. Smead Capital Management Inc. bought a new position in Western Alliance Bancorporation in the 4th quarter valued at $77,957,000. Strs Ohio grew its stake in Western Alliance Bancorporation by 35.3% in the 4th quarter. Strs Ohio now owns 86,600 shares of the financial services provider’s stock valued at $5,697,000 after purchasing an additional 22,600 shares during the period. Invesco Ltd. grew its stake in Western Alliance Bancorporation by 170.4% in the 3rd quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider’s stock valued at $59,507,000 after purchasing an additional 815,737 shares during the period. Finally, Dark Forest Capital Management LP grew its stake in Western Alliance Bancorporation by 16.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 11,976 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 1,713 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.