Deutsche Bank Aktiengesellschaft Upgrades Western Alliance Bancorporation (NYSE:WAL) to “Buy”

Western Alliance Bancorporation (NYSE:WAL) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat reports. The brokerage currently has a $101.00 price objective on the financial services provider’s stock, up from their prior price objective of $83.00. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 20.54% from the stock’s previous close.

Several other analysts also recently commented on WAL. JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Wedbush upped their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Royal Bank of Canada boosted their price target on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Barclays increased their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Truist Financial upped their target price on Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.07.

Western Alliance Bancorporation Stock Down 0.2 %

Western Alliance Bancorporation stock opened at $83.79 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $9.22 billion, a PE ratio of 12.21, a PEG ratio of 1.60 and a beta of 1.44. The firm’s fifty day moving average is $80.24 and its 200 day moving average is $69.01. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $88.92.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period in the prior year, the business earned $1.96 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 7.39 EPS for the current fiscal year.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction on Monday, September 9th. The shares were 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 of the company’s stock, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction of $160,710.20. Following the transaction, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,265 shares of company stock valued at $1,700,391. 2.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation in the 1st quarter worth approximately $27,000. GAMMA Investing LLC boosted its position in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after buying an additional 183 shares during the period. ORG Partners LLC bought a new stake in Western Alliance Bancorporation in the 2nd quarter worth $36,000. Chilton Capital Management LLC purchased a new position in shares of Western Alliance Bancorporation in the second quarter valued at about $54,000. Finally, Versant Capital Management Inc raised its stake in shares of Western Alliance Bancorporation by 26.5% during the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.