Barclays Trims Western Alliance Bancorporation (NYSE:WAL) Target Price to $105.00

Western Alliance Bancorporation (NYSE:WAL) had its target price reduced by Barclays from $110.00 to $105.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Stephens reiterated an “overweight” rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Truist Financial decreased their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wedbush lifted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Trading Up 1.9 %

Shares of WAL stock opened at $83.88 on Tuesday. 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 stock has a market capitalization of $9.23 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The company has a 50 day moving average price of $83.04 and a 200 day moving average price of $71.03. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $94.28.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.76%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 22.84%.

Insider Activity at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 in the company, valued at $650,843.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,149 shares of company stock worth $1,539,681 in the last 90 days. 2.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors have recently bought and sold shares of WAL. Cincinnati Insurance Co. acquired a new position in Western Alliance Bancorporation in the 1st quarter valued at $46,538,000. LHM Inc. increased its stake in Western Alliance Bancorporation by 2,141.1% in the 2nd quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after buying an additional 723,995 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Western Alliance Bancorporation by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after buying an additional 717,242 shares during the period. Dimensional Fund Advisors LP increased its stake in Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after buying an additional 636,577 shares during the period. Finally, Vanguard Group Inc. increased its stake in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after buying an additional 395,101 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Company Profile

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.