Western Alliance Bancorporation (NYSE:WAL) Receives $92.27 Average Target Price from Analysts

Western Alliance Bancorporation (NYSE:WAL) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $92.60.

A number of equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Wells Fargo & Company lifted their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Barclays lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $83.88 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market cap of $9.23 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The company’s 50 day simple moving average is $83.04 and its 200-day simple moving average is $71.03. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $94.28.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is currently 22.84%.

Insider Activity

In other news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,149 shares of company stock valued at $1,539,681 in the last 90 days. 2.75% of the stock is currently owned by insiders.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of WAL. Teachers Retirement System of The State of Kentucky increased its position in Western Alliance Bancorporation by 41.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 30,400 shares of the financial services provider’s stock worth $2,000,000 after purchasing an additional 8,833 shares in the last quarter. GAMMA Investing LLC increased its position in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares in the last quarter. Oak Thistle LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter worth approximately $201,000. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter worth approximately $27,000. Finally, Principal Financial Group Inc. increased its position in Western Alliance Bancorporation by 32.7% during the 1st quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 2,220 shares in 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.