Western Alliance Bancorporation (NYSE:WAL) Stock Rating Reaffirmed by Stephens

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Stephens in a note issued to investors on Friday, Benzinga reports. They currently have a $82.00 price target on the financial services provider’s stock. Stephens’ price target suggests a potential upside of 47.19% from the company’s current price.

WAL has been the subject of a number of other research reports. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Truist Financial reaffirmed a “buy” rating and issued a $80.00 target price on shares of Western Alliance Bancorporation in a report on Monday, April 1st. Barclays began coverage on shares of Western Alliance Bancorporation in a research report on Friday, March 8th. They issued an “overweight” rating and a $91.00 price objective on the stock. Citigroup raised their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Jefferies Financial Group dropped their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.73.

Western Alliance Bancorporation Stock Down 0.1 %

Shares of NYSE WAL traded down $0.03 during midday trading on Friday, hitting $55.71. The company’s stock had a trading volume of 899,698 shares, compared to its average volume of 1,430,825. The business’s fifty day simple moving average is $59.58 and its two-hundred day simple moving average is $56.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 8.48 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. During the same period last year, the business earned $2.30 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post 7.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $27,000. Oak Thistle LLC purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $201,000. GAMMA Investing LLC increased its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares in the last quarter. Congress Asset Management Co. MA increased its stake in shares of Western Alliance Bancorporation by 0.6% during the 4th quarter. Congress Asset Management Co. MA now owns 216,832 shares of the financial services provider’s stock worth $14,265,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $873,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

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.