Western Alliance Bancorporation’s (WAL) Overweight Rating Reiterated at Stephens

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “overweight” rating reiterated by Stephens in a research note issued on Tuesday,Benzinga reports. They currently have a $103.00 target price on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 16.18% from the company’s current price.

A number of other research firms have also recently commented on WAL. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. UBS Group began coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price for the company. Barclays raised their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $83.00 to $101.00 in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.38.

Western Alliance Bancorporation Trading Down 5.7 %

Shares of NYSE WAL traded down $5.35 during trading hours on Tuesday, hitting $88.66. The company’s stock had a trading volume of 749,285 shares, compared to its average volume of 1,235,945. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.88 and a beta of 1.46. The business has a 50-day simple moving average of $88.03 and a 200-day simple moving average of $83.91. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, analysts anticipate that Western Alliance Bancorporation will post 7.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its position in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the period. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter worth $33,000. UMB Bank n.a. grew its position in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 249 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.