Western Alliance Bancorporation (NYSE:WAL) had its price objective raised by Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $72.00 to $99.00 in a research note published on Tuesday morning, Benzinga reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell currently has a neutral rating on the financial services provider’s stock.
Other research analysts have also issued reports about the stock. Truist Financial lifted their price objective on shares of Western Alliance Bancorporation from $69.00 to $85.00 in a research note on Monday, January 25th. Citigroup upped their price target on shares of Western Alliance Bancorporation from $72.00 to $99.00 in a report on Wednesday, April 14th. Royal Bank of Canada lifted their target price on Western Alliance Bancorporation from $104.00 to $115.00 and gave the stock an outperform rating in a research report on Monday. Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an equal weight rating to an overweight rating and set a $120.00 price target on the stock in a report on Monday. Finally, UBS Group upgraded shares of Western Alliance Bancorporation from a neutral rating to a buy rating and increased their price objective for the company from $44.00 to $83.00 in a research note on Friday, January 8th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $91.57.
Shares of NYSE:WAL opened at $100.39 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.95. Western Alliance Bancorporation has a fifty-two week low of $26.75 and a fifty-two week high of $104.85. The firm has a fifty day moving average price of $95.88 and a 200 day moving average price of $68.85. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 23.62 and a beta of 1.76.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.43. Western Alliance Bancorporation had a return on equity of 14.37% and a net margin of 32.82%. During the same period last year, the business posted $0.83 earnings per share. As a group, research analysts predict that Western Alliance Bancorporation will post 3.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 5th. Investors of record on Friday, February 19th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, February 18th. Western Alliance Bancorporation’s payout ratio is currently 20.66%.
In other news, Director Robert P. Latta sold 2,474 shares of the stock in a transaction on Friday, March 5th. The shares were sold at an average price of $95.53, for a total value of $236,341.22. Following the sale, the director now owns 3,074 shares in the company, valued at $293,659.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.46% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. acquired a new position in Western Alliance Bancorporation in the first quarter valued at approximately $604,000. Roman Butler Fullerton & Co. purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at approximately $967,000. Private Advisor Group LLC acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at $267,000. Ingalls & Snyder LLC purchased a new stake in Western Alliance Bancorporation during the first quarter worth $252,000. Finally, Paragon Capital Management Ltd acquired a new stake in Western Alliance Bancorporation during the first quarter valued at $251,000. Institutional investors own 84.14% of the company’s stock.
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 in two segments, Commercial and Consumer Related. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services.
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