Western Alliance Bancorporation (NYSE:WAL) Given New $101.00 Price Target at Piper Sandler

Western Alliance Bancorporation (NYSE:WAL) had its target price trimmed by Piper Sandler from $102.00 to $101.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays upped their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Finally, Truist Financial cut their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Trading Up 1.9 %

Shares of WAL opened at $83.88 on Monday. The business’s 50-day moving average price is $83.04 and its 200-day moving average price is $71.03. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $94.28. The stock has a market cap of $9.23 billion, a PE ratio of 12.94, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend 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 Activity

In other news, insider Barbara Kennedy sold 11,083 shares of the 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 completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Stephen Russell Curley sold 5,070 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares of the company’s stock, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of the firm’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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,149 shares of company stock valued at $1,539,681. 2.75% of the stock is currently owned by company insiders.

Institutional Trading of Western Alliance Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation in the third quarter worth $31,000. ORG Wealth Partners LLC purchased a new stake in Western Alliance Bancorporation in the third quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation in the first quarter worth $27,000. UMB Bank n.a. raised its holdings in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other 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.