Recent Analysts’ Ratings Changes for Western Alliance Bancorporation (WAL)

Several analysts have recently updated their ratings and price targets for Western Alliance Bancorporation (NYSE: WAL):

• 11/8/2024 – Western Alliance Bancorporation had its price target raised by analysts at Barclays PLC from $105.00 to $107.00. They now have an “overweight” rating on the stock.
• 10/22/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Barclays PLC from $110.00 to $105.00. They now have an “overweight” rating on the stock.
• 10/21/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Piper Sandler from $102.00 to $101.00. They now have an “overweight” rating on the stock.
• 10/21/2024 – Western Alliance Bancorporation had its price target lowered by analysts at JPMorgan Chase & Co. from $107.00 to $105.00. They now have an “overweight” rating on the stock.
• 10/21/2024 – Western Alliance Bancorporation had its price target lowered by analysts at Truist Financial Co. from $100.00 to $95.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Western Alliance Bancorporation was given a new $99.00 price target on by analysts at Royal Bank of Canada. They now have an “outperform” rating on the stock.
• 10/18/2024 – Western Alliance Bancorporation was given a new $102.00 price target on by analysts at Piper Sandler.
• 10/18/2024 – Western Alliance Bancorporation had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $102.00 price target on the stock.
• 10/9/2024 – Western Alliance Bancorporation had its price target raised by analysts at JPMorgan Chase & Co. from $100.00 to $107.00. They now have an “overweight” rating on the stock.
• 10/7/2024 – Western Alliance Bancorporation was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating. They now have a $101.00 price target on the stock, up previously from $83.00.
• 10/1/2024 – Western Alliance Bancorporation had its price target raised by analysts at Wells Fargo & Company from $85.00 to $92.00. They now have an “equal weight” rating on the stock.
• 9/24/2024 – Western Alliance Bancorporation had its price target raised by analysts at Wedbush from $90.00 to $105.00. They now have an “outperform” rating on the stock.
• 9/20/2024 – Western Alliance Bancorporation had its price target raised by analysts at Truist Financial Co. from $88.00 to $100.00. They now have a “buy” rating on the stock.

Western Alliance Bancorporation Price Performance

Shares of WAL traded down $0.49 during trading hours on Friday, hitting $89.86. The stock had a trading volume of 1,048,223 shares, compared to its average volume of 1,320,843. Western Alliance Bancorporation has a 52 week low of $43.20 and a 52 week high of $96.45. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.51 and a beta of 1.44. The company’s fifty day moving average is $84.55 and its two-hundred day moving average is $73.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is 23.46%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently modified their holdings of WAL. Allspring Global Investments Holdings LLC acquired a new position in Western Alliance Bancorporation in the first quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in Western Alliance Bancorporation in the third quarter worth $33,000. ORG Partners LLC bought a new position in shares of Western Alliance Bancorporation during the second quarter worth $36,000. Finally, UMB Bank n.a. grew its holdings in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the period. 79.15% of the stock is owned by institutional investors.

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.