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

Wedbush reiterated their outperform rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a report issued on Wednesday, Benzinga reports. They currently have a $70.00 price target 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.

Several other brokerages have also recently weighed in on WAL. StockNews.com cut shares of Western Alliance Bancorporation from a hold rating to a sell rating in a research note on Saturday, March 9th. Jefferies Financial Group cut their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a buy rating on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an overweight rating for the company in a report on Thursday, April 4th. Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $72.00 to $68.00 and set an equal weight rating for the company in a research report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods decreased their price target on Western Alliance Bancorporation from $79.00 to $74.00 and set an outperform rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of Moderate Buy and a consensus price target of $70.56.

Western Alliance Bancorporation Trading Up 1.2 %

NYSE:WAL traded up $0.74 on Wednesday, reaching $63.72. The company’s stock had a trading volume of 716,292 shares, compared to its average volume of 1,378,304. The firm has a market cap of $7.02 billion, a PE ratio of 9.24 and a beta of 1.47. 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 business’s 50-day moving average price is $59.52 and its two-hundred day moving average price is $57.86. Western Alliance Bancorporation has a 1-year low of $25.62 and a 1-year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same quarter in the prior year, the firm earned $2.30 earnings per share. Equities research analysts anticipate that Western Alliance Bancorporation will post 7.57 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation during the first quarter worth about $27,000. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 183 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Western Alliance Bancorporation by 422.2% during the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 760 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth $65,000. Finally, Fortitude Family Office LLC acquired a new position in Western Alliance Bancorporation during the fourth quarter worth about $93,000. Institutional investors own 79.15% of the company’s stock.

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.