Western Alliance Bancorporation (NYSE:WAL) Price Target Cut to $105.00 by Analysts at JPMorgan Chase & Co.

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

A number of other equities research analysts have also recently issued reports on the company. Wedbush boosted their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Finally, Jefferies Financial Group upped their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.73.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $80.49 on Monday. The company has a fifty day simple moving average of $82.73 and a 200 day simple moving average of $70.79. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $94.28. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $8.86 billion, a P/E ratio of 12.42, a PEG ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is 22.84%.

Insiders Place Their Bets

In other news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred 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 transaction, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert P. Latta sold 2,996 shares of the company’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 sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The shares were 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 owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,149 shares of company stock valued at $1,539,681 in the last quarter. 2.75% of the stock is currently owned by insiders.

Institutional Trading of Western Alliance Bancorporation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings 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 purchasing an additional 395,101 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Western Alliance Bancorporation by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after buying an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after buying an additional 636,577 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Western Alliance Bancorporation by 0.7% in the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock valued at $176,764,000 after buying an additional 20,876 shares in the last quarter. Finally, Hood River Capital Management LLC grew its stake in Western Alliance Bancorporation by 5.9% during the 1st quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider’s stock worth $105,378,000 after purchasing an additional 91,535 shares in the last quarter. 79.15% of the stock is 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.