Western Alliance Bancorporation (NYSE:WAL) Stock Price Expected to Rise, Barclays Analyst Says

Western Alliance Bancorporation (NYSE:WAL) had its price objective upped by investment analysts at Barclays from $105.00 to $107.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 19.06% from the company’s current price.

Several other brokerages have also recently commented on WAL. Truist Financial dropped their price target 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, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Stephens reaffirmed an “overweight” rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Bank of America lifted their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Trading Down 0.5 %

Western Alliance Bancorporation stock opened at $89.87 on Friday. Western Alliance Bancorporation has a 12-month low of $43.20 and a 12-month high of $96.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $9.89 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The firm has a 50 day simple moving average of $84.55 and a 200-day simple moving average of $73.29.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. As a group, equities research analysts expect that Western Alliance Bancorporation will post 7.13 EPS 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 business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation in the first quarter worth about $27,000. BNP Paribas Financial Markets lifted its holdings in Western Alliance Bancorporation by 1,649.6% in the 1st quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock worth $3,735,000 after purchasing an additional 54,865 shares during the last quarter. Quantbot Technologies LP boosted its position in Western Alliance Bancorporation by 128.0% during the first quarter. Quantbot Technologies LP now owns 36,369 shares of the financial services provider’s stock worth $2,335,000 after purchasing an additional 20,421 shares during the period. SG Americas Securities LLC boosted its position in Western Alliance Bancorporation by 1,706.9% during the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock worth $1,983,000 after purchasing an additional 29,188 shares during the period. Finally, Inspire Investing LLC grew its holdings in Western Alliance Bancorporation by 116.2% during the first quarter. Inspire Investing LLC now owns 12,553 shares of the financial services provider’s stock valued at $806,000 after purchasing an additional 6,748 shares during the last quarter. 79.15% of the stock is currently owned by 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.