Western Alliance Bancorporation (NYSE:WAL) Reaches New 12-Month High – What’s Next?

Western Alliance Bancorporation (NYSE:WAL) shares hit a new 52-week high on Wednesday . The stock traded as high as $94.41 and last traded at $94.41, with a volume of 1778147 shares traded. The stock had previously closed at $84.63.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their target price for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Piper Sandler dropped their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Wedbush raised their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Barclays dropped their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.60.

Western Alliance Bancorporation Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock’s 50 day simple moving average is $84.19 and its two-hundred day simple moving average is $72.95. The firm has a market capitalization of $10.58 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 22.84%.

Insiders Place Their Bets

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors have recently added to or reduced their stakes in WAL. LHM Inc. increased its holdings in Western Alliance Bancorporation by 2,141.1% in the 2nd quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after purchasing an additional 723,995 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Western Alliance Bancorporation by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after purchasing an additional 717,242 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after purchasing an additional 636,577 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock valued at $44,522,000 after purchasing an additional 506,778 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after purchasing an additional 395,101 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

About Western Alliance Bancorporation

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.