Western Alliance Bancorporation (NYSE:WAL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Shares of Western Alliance Bancorporation (NYSE:WAL – Get Free Report) have received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $87.40.

A number of analysts recently commented on the company. Barclays lifted their price objective on Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Bank of America boosted their price target on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Wedbush raised their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th.

Read Our Latest Analysis on Western Alliance Bancorporation

Western Alliance Bancorporation Trading Up 0.3 %

Shares of NYSE WAL opened at $85.58 on Wednesday. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $88.92. 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 company has a 50-day moving average of $79.61 and a two-hundred day moving average of $67.97. The company has a market cap of $9.42 billion, a PE ratio of 12.48, a P/E/G ratio of 1.61 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The firm had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. As a group, equities analysts expect that Western Alliance Bancorporation will post 7.4 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is currently 21.57%.

Insider Transactions at Western Alliance Bancorporation

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the sale, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at approximately $267,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred 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 sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the sale, the chief accounting officer now owns 3,520 shares in the company, valued at approximately $267,344. The disclosure for this sale can be found here. Insiders sold 21,265 shares of company stock valued at $1,700,391 over the last quarter. Corporate insiders own 2.75% of the company’s stock.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $221,000. LHM Inc. increased its position in shares of Western Alliance Bancorporation by 55.4% in the second quarter. LHM Inc. now owns 52,554 shares of the financial services provider’s stock valued at $3,301,000 after acquiring an additional 18,740 shares during the last quarter. Creative Planning raised its holdings in Western Alliance Bancorporation by 6.1% during the second quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 330 shares in the last quarter. Algert Global LLC boosted its position in Western Alliance Bancorporation by 18.8% during the second quarter. Algert Global LLC now owns 145,540 shares of the financial services provider’s stock valued at $9,143,000 after purchasing an additional 22,989 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Western Alliance Bancorporation by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 523,425 shares of the financial services provider’s stock valued at $32,882,000 after purchasing an additional 4,801 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

(Get Free Report

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.

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