Keefe, Bruyette & Woods Cuts Western Alliance Bancorporation (NYSE:WAL) Price Target to $95.00

Western Alliance Bancorporation (NYSE:WAL) had its target price decreased by Keefe, Bruyette & Woods from $100.00 to $95.00 in a research report sent to investors on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on WAL. TD Cowen assumed coverage on Western Alliance Bancorporation in a research note on Thursday, September 25th. They issued a “buy” rating and a $118.00 price target on the stock. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a research note on Wednesday, October 8th. Finally, Citigroup reissued a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $79.21 on Thursday. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The business’s fifty day moving average is $85.14 and its two-hundred day moving average is $78.95. The stock has a market capitalization of $8.74 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $718.00 million for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%. On average, research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.79%.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors have recently added to or reduced their stakes in WAL. WCM Investment Management LLC increased its stake in shares of Western Alliance Bancorporation by 5.4% during the 2nd quarter. WCM Investment Management LLC now owns 234,809 shares of the financial services provider’s stock worth $18,226,000 after purchasing an additional 12,116 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 53.3% in the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 758 shares in the last quarter. New York State Teachers Retirement System increased its position in Western Alliance Bancorporation by 24.9% during the first quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider’s stock worth $1,950,000 after buying an additional 5,056 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Western Alliance Bancorporation by 22.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,380 shares of the financial services provider’s stock valued at $337,000 after buying an additional 808 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Western Alliance Bancorporation by 5.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,262 shares of the financial services provider’s stock worth $251,000 after buying an additional 175 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.