Western Alliance Bancorporation (NYSE:WAL) Given "Overweight" Rating at Stephens

Western Alliance Bancorporation (NYSE:WAL - Get Free Report)'s stock had its "overweight" rating reaffirmed by Stephens in a note issued to investors on Friday, Marketbeat reports. They presently have a $102.00 price objective on the financial services provider's stock. Stephens' price target would indicate a potential upside of 19.26% from the stock's previous close.

WAL has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on Western Alliance Bancorporation from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Bank of America raised their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Truist Financial raised their price target on Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada boosted their target price on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.27.

Western Alliance Bancorporation Price Performance

WAL traded down $8.39 during trading hours on Friday, hitting $85.53. The company's stock had a trading volume of 4,708,474 shares, compared to its average volume of 1,313,068. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.35 and a beta of 1.44. The business's 50-day moving average price is $82.58 and its 200-day moving average price is $70.51. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $94.28.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its 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 net margin of 15.54% and a return on equity of 13.98%. The firm had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period in the previous year, the firm posted $1.96 EPS. The business's quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts expect that Western Alliance Bancorporation will post 7.41 earnings per share for the current fiscal year.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Western Alliance Bancorporation 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 value of $247,919.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company's stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,265 shares of company stock valued at $1,700,391. Corporate insiders own 2.75% of the company's stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation during the 1st quarter valued at about $27,000. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC raised its stake in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 183 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth $33,000. Finally, ORG Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at about $36,000. 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.