Western Alliance Bancorp (NYSE:WAL) had its target price increased by equities researchers at Royal Bank Of Canada from $42.00 to $46.00 in a report released on Thursday. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 14.40% from the company’s previous close.

A number of other brokerages have also recently commented on WAL. Wells Fargo & Co. began coverage on shares of Western Alliance Bancorp in a research note on Thursday, September 1st. They issued a “market perform” rating for the company. Zacks Investment Research cut shares of Western Alliance Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 27th. Finally, Jefferies Group reissued a “buy” rating and issued a $42.00 price objective on shares of Western Alliance Bancorp in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.70.

Analyst Recommendations for Western Alliance Bancorp (NYSE:WAL)

Western Alliance Bancorp (NYSE:WAL) opened at 40.21 on Thursday. Western Alliance Bancorp has a 1-year low of $26.60 and a 1-year high of $40.62. The company has a 50-day moving average of $37.69 and a 200-day moving average of $35.91. The company has a market capitalization of $4.17 billion, a P/E ratio of 16.66 and a beta of 1.62.

Western Alliance Bancorp (NYSE:WAL) last posted its earnings results on Monday, October 24th. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Western Alliance Bancorp had a net margin of 35.19% and a return on equity of 14.64%. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities analysts expect that Western Alliance Bancorp will post $2.50 EPS for the current fiscal year.

In related news, Director M Nafees Nagy sold 27,700 shares of Western Alliance Bancorp stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $38.03, for a total transaction of $1,053,431.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Duane Ralph Froeschle sold 10,000 shares of Western Alliance Bancorp stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. Following the sale, the insider now owns 11,050 shares of the company’s stock, valued at approximately $419,900. The disclosure for this sale can be found here. Corporate insiders own 10.27% of the company’s stock.

A number of large investors have recently made changes to their positions in WAL. Wellington Management Group LLP raised its stake in shares of Western Alliance Bancorp by 283.0% in the first quarter. Wellington Management Group LLP now owns 3,038,715 shares of the financial services provider’s stock worth $101,432,000 after buying an additional 2,245,217 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Western Alliance Bancorp by 6,265.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,955,702 shares of the financial services provider’s stock worth $63,854,000 after buying an additional 1,924,980 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Western Alliance Bancorp by 54.4% in the third quarter. Victory Capital Management Inc. now owns 4,158,272 shares of the financial services provider’s stock worth $156,102,000 after buying an additional 1,465,073 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Western Alliance Bancorp by 39.8% in the second quarter. Lord Abbett & CO. LLC now owns 3,027,841 shares of the financial services provider’s stock worth $98,859,000 after buying an additional 861,446 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management raised its stake in shares of Western Alliance Bancorp by 812.7% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 721,709 shares of the financial services provider’s stock worth $23,564,000 after buying an additional 642,636 shares during the last quarter. Institutional investors own 79.31% of the company’s stock.

About Western Alliance Bancorp

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

5 Day Chart for NYSE:WAL

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