Western Alliance Bancorporation (NYSE:WAL) Receives $101.20 Consensus PT from Brokerages

Western Alliance Bancorporation (NYSE:WAL) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $101.20.

A number of equities analysts have commented on WAL shares. Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, October 23rd. Barclays restated an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. National Bankshares set a $118.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, September 24th. Finally, Cowen began coverage on shares of Western Alliance Bancorporation in a report on Wednesday, September 24th. They issued a “buy” rating on the stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, CFO Dale Gibbons purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer owned 300,358 shares in the company, valued at approximately $23,127,566. This trade represents a 1.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at $26,000. Quent Capital LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $27,000. Root Financial Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter valued at about $27,000. Finally, Hantz Financial Services Inc. grew its position in Western Alliance Bancorporation by 995.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 478 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Up 0.9%

Shares of Western Alliance Bancorporation stock opened at $77.34 on Thursday. The business has a 50-day moving average price of $84.59 and a 200 day moving average price of $79.47. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The firm has a market cap of $8.54 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.52 and a beta of 1.35. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The company had revenue of $718.00 million for the quarter. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

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.