Western Alliance Bancorporation is a bank company located in Arizona, United States, which is part of the Financial Services sector, and is traded under the ticker WAL on the NYSE exchange.
Western Alliance Bancorporation stock last closed at $48.51, down 0.1% from the previous day, and has decreased 26.96% in one year. It has underperformed other stocks in the Banks - Regional industry by 0.13 percentage points. Western Alliance Bancorporation stock is currently +550.27% from its 52-week low of $7.46, and -40.24% from its 52-week high of $81.17.
As of Nov 28, 2023, there are 109.47M shares of WAL outstanding. The market cap of WAL is $5.31B. In the past 24 hours, 606,102 WAL shares were traded.
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After you have chosen the best place to buy Western Alliance Bancorporation stock, it's important to evaluate their stock before you buy, so you can wrap your head around the risk and opportunity.
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You can see all of the due diligence checks on WAL's stock page.
Analysts use many financial metrics, analyses, models, and charts to gauge WAL's true value.
Using relative valuations ratios:
You can access more valuation analysis on WAL's stock here.
Out of 11 Equities analysts who give recommendations on WAL, the consensus analyst rating on Western Alliance Bancorporation is a Strong Buy
It's important to keep in mind that analyst forecasts are not stock recommendations, nor are they financial advice.
Gary Tenner, a top 11% analyst from DA Davidson maintains WAL with a strong buy rating and raises their WAL price target from $52.00 to $64.00, on Jul 20, 2023.
DA Davidson's Gary Tenner raised their price target on Western Alliance Bancorporation (NYSE: WAL) by 23.08% from $52.00 to $64.00 on 2023/07/20. The analyst maintained their Strong Buy rating on the stock.
The analyst's update followed an assessment of the bank's 2023/07/28 Q2 2023 earnings report.
The stock "significantly outperformed" post its Q2 earnings report, the analyst stated.
In the near term, Western Alliance will continue to outperform, Tenner predicted because of "its continued and rapid balance sheet response to the industry's liquidity issues, strong core deposit inflows, and solid profitability visibility."
For Q2 2023, Western Alliance reported:
For H2 2023, management guided:
CEO Kenneth Vecchione commented, “Western Alliance continued to successfully execute its balance sheet repositioning strategy and return to normal business operations by bolstering liquidity and capital, sustaining profitability and expanding core client relationships.
“Quarterly deposit growth of $3.5B lowered our HFI loan-to-deposit ratio to 94%, with total insured and collateralized deposits representing 81% of deposits and available liquidity coverage of 276% of uninsured deposits.
"We achieved net income of $215.7M and earnings per share of $1.96 for Q2 2023, which resulted in a return on tangible common equity of 18.2%. Tangible book value per share climbed 3.7% quarterly to $43.09, or 17.5% Y/Y, with a CET1 ratio of 10.1%."
Tyler Stafford, a top 20% analyst from Stephens & Co. reiterates WAL with a strong buy rating and maintains their WAL price target from $65.00 to $65.00, on Jul 20, 2023.
Brody Preston, a top 13% analyst from UBS maintains WAL with a strong buy rating and raises their WAL price target from $61.00 to $66.00, on Jul 20, 2023.
Steven Alexopoulos, a bottom 2% analyst from JP Morgan maintains WAL with a strong buy rating and raises their WAL price target from $53.00 to $60.00, on Jul 20, 2023.
Ebrahim Poonawala, a top 30% analyst from Bank of America maintains WAL with a strong buy rating and raises their WAL price target from $42.00 to $50.00, on Jul 20, 2023.
You can dive deeper into what analysts are forecasting on the Western Alliance Bancorporation stock forecast page.
Last year, WAL earnings were $854.70M. In the past five year, WAL's earnings have grown by 15.28% per year. This was slower than the Banks - Regional industry average of 19.18%.
Last year, WAL revenue was $2.58B. Over the past five year, WAL's revenue has grown by 23.34% per year. This was faster than the Banks - Regional industry average of 5.79%.
Dig into WAL's earnings and revenue performance here.
Over the past 12 months, insiders at WAL have sold more shares than they have bought.
Emily Nachlas, Chief Risk Officer of WAL, was the latest WAL insider to sell. They sold $11,067.60 worth of WAL stock on Oct 29, 2023.
Research more about who owns WAL stock here.
Western Alliance Bancorporation pays a dividend of 2.99%, compared to the Banks - Regional industry's average dividend yield of 3.91%. If you owned $1,000 of WAL stock, you would have been paid $29.89 last year.
Western Alliance Bancorporation dividend payments have consistently grown over the past 5 years and have remained stable.
Dig into more info about Western Alliance Bancorporation dividend yield and history here.
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