Analysts Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $84.27

Western Alliance Bancorporation (NYSE:WAL) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $84.27.

A number of equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Bank of America raised their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Jefferies Financial Group increased their price objective on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was 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 directly owns 3,520 shares of the company’s stock, valued at approximately $267,344. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,186 shares of company stock valued at $612,410. 2.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in shares of Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 164 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 183 shares during the period. Versant Capital Management Inc lifted its stake in Western Alliance Bancorporation by 26.5% in the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after buying an additional 244 shares in the last quarter. Riverwater Partners LLC boosted its holdings in shares of Western Alliance Bancorporation by 1.0% in the first quarter. Riverwater Partners LLC now owns 29,467 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 287 shares during the period. Finally, Madison Asset Management LLC increased its position in shares of Western Alliance Bancorporation by 0.4% during the fourth quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock worth $4,959,000 after acquiring an additional 297 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Down 1.0 %

Shares of NYSE:WAL opened at $73.37 on Tuesday. The company has a market capitalization of $8.08 billion, a PE ratio of 10.70, a P/E/G ratio of 1.41 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The company’s fifty day moving average is $67.27 and its 200-day moving average is $62.97. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $82.48.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The firm had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. Equities research analysts predict that Western Alliance Bancorporation will post 7.36 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 2.02%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

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.