Western Alliance Bancorporation’s (WAL) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a report published on Wednesday morning, Benzinga reports. Wedbush currently has a $70.00 target price on the financial services provider’s stock. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.34 EPS, FY2024 earnings at $7.80 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.36 EPS and Q3 2025 earnings at $2.47 EPS.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada lowered their price target on Western Alliance Bancorporation from $78.00 to $76.00 and set an outperform rating on the stock in a report on Monday, April 22nd. Citigroup increased their price objective on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a buy rating in a research note on Monday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating for the company in a research report on Thursday, April 4th. Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a research report on Monday, April 22nd. They issued an outperform rating and a $75.00 price target on the stock. Finally, Stephens reissued an overweight rating and set a $82.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $70.56.

Western Alliance Bancorporation Stock Up 1.2 %

Shares of NYSE:WAL traded up $0.74 during trading on Wednesday, reaching $63.72. 716,292 shares of the stock traded hands, compared to its average volume of 1,378,304. The stock has a market cap of $7.02 billion, a P/E ratio of 9.24 and a beta of 1.47. Western Alliance Bancorporation has a 52-week low of $25.62 and a 52-week high of $70.23. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. The stock has a 50-day moving average of $59.52 and a two-hundred day moving average of $57.86.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same quarter in the previous year, the firm earned $2.30 EPS. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 7.57 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in Western Alliance Bancorporation by 5.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock valued at $408,000 after buying an additional 487 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Western Alliance Bancorporation by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 636,814 shares of the financial services provider’s stock valued at $29,274,000 after buying an additional 18,178 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Western Alliance Bancorporation by 3.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,498 shares of the financial services provider’s stock worth $988,000 after acquiring an additional 724 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $379,000. Finally, Strs Ohio bought a new stake in Western Alliance Bancorporation in the third quarter worth $2,942,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.