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

Stephens reaffirmed their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a report published on Tuesday,Benzinga reports. They currently have a $103.00 price target on the financial services provider’s stock.

Several other equities research analysts have also recently commented on WAL. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Wells Fargo & Company cut their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Piper Sandler reduced their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Barclays upped their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.07.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $89.62 on Tuesday. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The firm has a market capitalization of $9.86 billion, a PE ratio of 13.83, a P/E/G ratio of 0.88 and a beta of 1.46. The company’s 50 day simple moving average is $88.11 and its 200 day simple moving average is $84.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after buying an additional 157 shares during the last quarter. Pacer Advisors Inc. lifted its position in Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after buying an additional 163 shares in the last quarter. Blue Trust Inc. lifted its position in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. 79.15% of the stock is currently 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.