Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $105.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective reduced by JPMorgan Chase & Co. from $107.00 to $105.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

WAL has been the topic of a number of other reports. Piper Sandler set a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Jefferies Financial Group lifted their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Bank of America upped their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $83.88 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $94.28. The company’s 50 day moving average price is $83.04 and its two-hundred day moving average price is $71.03. The company 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.

Western Alliance Bancorporation Announces Dividend

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

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at approximately $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 have sold 19,149 shares of company stock worth $1,539,681 over the last 90 days. Company insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Western Alliance Bancorporation in the first quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $31,000. GAMMA Investing LLC increased its position in 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 buying an additional 183 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth $33,000. Finally, ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the second quarter valued at about $36,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.