Western Alliance Bancorporation (NYSE:WAL) Given New $106.00 Price Target at DA Davidson

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its target price decreased by investment analysts at DA Davidson from $110.00 to $106.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. DA Davidson's target price suggests a potential upside of 20.11% from the stock's current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company cut their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Stephens reaffirmed an "overweight" rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price for the company. Finally, Piper Sandler lowered their price target on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen 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 $96.13.

Western Alliance Bancorporation Price Performance

NYSE WAL traded down $0.92 during mid-day trading on Wednesday, hitting $88.25. The stock had a trading volume of 1,493,357 shares, compared to its average volume of 1,357,084. The company has a 50 day simple moving average of $88.13 and a 200 day simple moving average of $84.26. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 0.88 and a beta of 1.46. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Equities analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently bought and sold shares of WAL. Fifth Third Bancorp grew its stake in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at $33,000. UMB Bank n.a. increased its position in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $44,000 after purchasing an additional 187 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

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.

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