Western Alliance Bancorporation (NYSE:WAL) Stock Rating Reaffirmed by Stephens

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “overweight” rating restated by analysts at Stephens in a report released on Friday, Benzinga reports. They presently have a $82.00 price objective on the financial services provider’s stock. Stephens’ price target points to a potential upside of 47.19% from the company’s current price.

Other research analysts also recently issued reports about the stock. DA Davidson reiterated a “buy” rating and issued a $85.00 price target on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. Citigroup increased their price target on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Jefferies Financial Group decreased their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Truist Financial reiterated a “buy” rating and issued a $80.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. Finally, Barclays initiated coverage on shares of Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an “overweight” rating and a $91.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.73.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded down $0.03 during midday trading on Friday, reaching $55.71. 899,698 shares of the company traded hands, compared to its average volume of 1,430,825. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 8.48 and a beta of 1.47. The business has a 50 day moving average of $59.58 and a two-hundred day moving average of $56.32. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. During the same quarter in the prior year, the business earned $2.30 EPS. As a group, research analysts predict that Western Alliance Bancorporation will post 7.88 earnings per share for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently made changes to their positions in the company. Guggenheim Capital LLC lifted its holdings in shares of Western Alliance Bancorporation by 3.2% in the 1st quarter. Guggenheim Capital LLC now owns 4,831 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 151 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the last quarter. Utah Retirement Systems lifted its holdings in shares of Western Alliance Bancorporation by 1.1% in the 1st quarter. Utah Retirement Systems now owns 18,511 shares of the financial services provider’s stock worth $1,534,000 after acquiring an additional 200 shares during the last quarter. Riverwater Partners LLC lifted its holdings in shares of Western Alliance Bancorporation by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 211 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Western Alliance Bancorporation by 33.8% in the 2nd quarter. Harbour Investments Inc. now owns 931 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares during the last quarter. 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.