DA Davidson Issues Pessimistic Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price target trimmed by DA Davidson from $110.00 to $106.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $101.00 in a report on Monday, October 7th. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on 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. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Barclays boosted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $97.07.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $88.25 on Wednesday. The company has a 50 day moving average price of $88.13 and a 200 day moving average price of $84.26. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. 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 $9.71 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its position 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 worth $28,000 after acquiring an additional 136 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation during the third quarter worth $33,000. UMB Bank n.a. grew its position in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying 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.