Western Alliance Bancorporation (NYSE: WAL) has recently received a number of price target changes and ratings updates:

  • 11/2/2017 – Western Alliance Bancorporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 10/26/2017 – Western Alliance Bancorporation had its price target raised by analysts at SunTrust Banks, Inc. from $59.00 to $62.00. They now have a “buy” rating on the stock.
  • 10/24/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $65.00 price target on the stock.
  • 10/24/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $64.50 price target on the stock.
  • 10/23/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $64.00 price target on the stock.
  • 10/23/2017 – Western Alliance Bancorporation was given a new $65.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 10/12/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $63.00 price target on the stock.
  • 10/12/2017 – Western Alliance Bancorporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 10/11/2017 – Western Alliance Bancorporation was given a new $62.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 9/26/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $57.00 price target on the stock.
  • 9/23/2017 – Western Alliance Bancorporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $56.00 price target on the stock. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 9/22/2017 – Western Alliance Bancorporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “

Western Alliance Bancorporation (WAL) traded down $0.25 during midday trading on Monday, reaching $53.42. The company’s stock had a trading volume of 349,400 shares, compared to its average volume of 655,428. The company has a market cap of $5,640.00, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.53 and a beta of 1.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. Western Alliance Bancorporation has a 12-month low of $42.32 and a 12-month high of $57.04.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. sell-side analysts forecast that Western Alliance Bancorporation will post 3.07 earnings per share for the current fiscal year.

In related news, Director Sung Won Sohn sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $55.89, for a total transaction of $279,450.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $56.49, for a total value of $225,960.00. Following the transaction, the executive vice president now directly owns 23,200 shares in the company, valued at $1,310,568. The disclosure for this sale can be found here. Insiders have sold a total of 269,000 shares of company stock worth $14,230,910 in the last ninety days. Insiders own 7.95% of the company’s stock.

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

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