Piper Sandler Lowers Western Alliance Bancorporation (NYSE:WAL) Price Target to $101.00

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price objective reduced by Piper Sandler from $102.00 to $101.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target points to a potential upside of 25.48% from the company's previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a report on Monday. Bank of America boosted their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Truist Financial cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday. StockNews.com lowered Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research note on Tuesday, August 13th. Finally, Wedbush increased their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.73.

Western Alliance Bancorporation Stock Down 5.9 %

Shares of NYSE:WAL traded down $5.04 during mid-day trading on Monday, reaching $80.49. 2,909,761 shares of the stock were exchanged, compared to its average volume of 1,320,935. The stock's 50 day simple moving average is $82.73 and its 200-day simple moving average is $70.79. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $94.28. The company has a market cap of $8.86 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.30 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.42%. The business had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts predict that Western Alliance Bancorporation will post 7.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert P. Latta sold 2,996 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now directly owns 4,056 shares of the company's stock, valued at $335,634. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now directly owns 4,056 shares of the company's stock, valued at approximately $335,634. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company's stock, valued at approximately $650,843.43. 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 19,149 shares of company stock worth $1,539,681. 2.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp grew its stake in shares of Western Alliance Bancorporation by 2,117.8% in the third quarter. Toth Financial Advisory Corp now owns 10,734 shares of the financial services provider's stock worth $928,000 after acquiring an additional 10,250 shares during the period. Buckley Wealth Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $272,000. TriaGen Wealth Management LLC purchased a new position in Western Alliance Bancorporation during the third quarter valued at $418,000. Blue Trust Inc. lifted its position in shares of 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 buying an additional 187 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter valued at $31,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.