UBS Group Begins Coverage on Western Alliance Bancorporation (NYSE:WAL)

Research analysts at UBS Group started coverage on shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $115.00 price target on the financial services provider's stock. UBS Group's price target would indicate a potential upside of 30.19% from the stock's previous close.

WAL has been the topic of several other reports. JPMorgan Chase & Co. dropped their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Stephens reaffirmed an "overweight" rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Piper Sandler dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Barclays upped their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an "outperform" rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.75.

Western Alliance Bancorporation Stock Down 3.0 %

WAL stock traded down $2.76 during trading on Tuesday, reaching $88.33. 1,021,387 shares of the company traded hands, compared to its average volume of 1,259,778. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The business has a 50 day simple moving average of $89.23 and a 200 day simple moving average of $78.95. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Institutional Trading of Western Alliance Bancorporation

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock worth $388,197,000 after acquiring an additional 1,418,472 shares during the period. Dimensional Fund Advisors LP raised its holdings in Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock worth $233,832,000 after purchasing an additional 636,577 shares during the period. William Blair Investment Management LLC raised its holdings in Western Alliance Bancorporation by 0.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider's stock worth $176,764,000 after purchasing an additional 20,876 shares during the period. FMR LLC boosted its position in Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after purchasing an additional 1,347,921 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Western Alliance Bancorporation by 4.1% in the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider's stock valued at $164,019,000 after purchasing an additional 74,956 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.