Wells Fargo & Company Lowers Western Alliance Bancorporation (NYSE:WAL) Price Target to $95.00

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target lowered by equities researchers at Wells Fargo & Company from $102.00 to $95.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 13.50% from the company's current price.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Piper Sandler lowered their price target on 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. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a "hold" rating to a "buy" rating and upped their price objective for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Stephens reissued an "overweight" rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Finally, Barclays upped their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.31.

Western Alliance Bancorporation Price Performance

NYSE:WAL traded down $0.70 during trading hours on Monday, hitting $83.70. 1,331,873 shares of the company's stock traded hands, compared to its average volume of 950,956. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The business's fifty day simple moving average is $88.71 and its two-hundred day simple moving average is $81.37. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.21 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.41 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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). The business had revenue of $833.10 million for the quarter, compared to analysts' expectations of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, research analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds have recently made changes to their positions in WAL. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation in the third quarter worth $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $33,000. UMB Bank n.a. increased its position in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after buying an additional 249 shares during the period. Blue Trust Inc. raised its stake in 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, Covestor Ltd lifted its holdings in Western Alliance Bancorporation by 167.5% in the third quarter. Covestor Ltd now owns 634 shares of the financial services provider's stock worth $55,000 after buying an additional 397 shares during the period. 79.15% of the stock is 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.