Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price objective lowered by equities researchers at Barclays from $107.00 to $97.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Barclays's price target indicates a potential upside of 53.79% from the stock's previous close.
WAL has been the subject of several other research reports. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price objective for the company. Finally, DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $96.40.
Read Our Latest Stock Report on Western Alliance Bancorporation
Western Alliance Bancorporation Price Performance
WAL stock traded down $0.16 during midday trading on Tuesday, reaching $63.07. The stock had a trading volume of 1,531,256 shares, compared to its average volume of 1,214,046. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company's fifty day simple moving average is $78.97 and its 200 day simple moving average is $84.55. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.
Western Alliance Bancorporation (NYSE:WAL - Get Free Report) 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 net margin of 15.49% and a return on equity of 13.14%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Western Alliance Bancorporation
A number of institutional investors have recently modified their holdings of the company. Vest Financial LLC purchased a new position in Western Alliance Bancorporation during the 1st quarter valued at about $919,000. Portside Wealth Group LLC acquired a new stake in shares of Western Alliance Bancorporation during the first quarter worth about $217,000. Rhumbline Advisers boosted its stake in shares of Western Alliance Bancorporation by 0.9% in the first quarter. Rhumbline Advisers now owns 304,742 shares of the financial services provider's stock valued at $23,413,000 after purchasing an additional 2,805 shares during the period. GAMMA Investing LLC grew its holdings in shares of Western Alliance Bancorporation by 11,675.5% in the first quarter. GAMMA Investing LLC now owns 167,566 shares of the financial services provider's stock valued at $12,874,000 after purchasing an additional 166,143 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Western Alliance Bancorporation by 5.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock worth $258,000 after buying an additional 166 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.
About Western Alliance Bancorporation
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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.
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