2 weeks Ago By ABMN Staff
Western Alliance Bancorporation ( NYSE:WAL – Get Free Report ) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, 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 1-year price target among brokerages that have issued a report on the stock in the last year is $87.
40. Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Western Alliance Bancorporation from $78.
00 to $87.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Truist Financial lifted their target price on Western Alliance Bancorporation from $88.
00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $68.
00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. StockNews.
com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Barclays boosted their price objective on Western Alliance Bancorporation from $86.00 to $92.
00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Check Out Our Latest Research Report on Western Alliance Bancorporation Western Alliance Bancorporation Stock Up 0.3 % Western Alliance Bancorporation ( NYSE:WAL – Get Free Report ) last announced its quarterly earnings data on Thursday, July 18th.
The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.
04. The business 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 was up 15.3% on a year-over-year basis.
During the same period last year, the business earned $1.96 EPS. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 7.
4 EPS for the current fiscal year. Western Alliance Bancorporation Announces Dividend The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.
37 dividend. This represents a $1.48 annualized dividend and a yield of 1.
73%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.
57%. Insider Transactions at Western Alliance Bancorporation In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction on Monday, September 9th.
The stock was sold at an average price of $82.75, for a total transaction of $247,919.00.
Following the completion of the transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link . In other news, Director Robert P.
Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.
00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. The sale was disclosed in a legal filing with the SEC, which is accessible through this link .
Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction 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 $650,843.43.
The disclosure for this sale can be found here . Insiders sold 21,265 shares of company stock valued at $1,700,391 in the last 90 days. 2.
75% of the stock is currently owned by insiders. Hedge Funds Weigh In On Western Alliance Bancorporation A number of hedge funds have recently made changes to their positions in WAL. Cincinnati Insurance Co.
acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at $46,538,000. LHM Inc. raised its holdings in shares of Western Alliance Bancorporation by 2,141.
1% during 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 lifted its position in Western Alliance Bancorporation by 16.3% during the 1st quarter.
Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after acquiring an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $233,832,000 after acquiring an additional 636,577 shares during the period. Finally, Vanguard Group Inc.
grew its position in Western Alliance Bancorporation by 3.9% in the first quarter. Vanguard Group Inc.
now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after acquiring an additional 395,101 shares in the last quarter. Hedge funds and other 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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