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A number of other brokerages also recently commented on WAL. DA Davidson lowered their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Stephens restated an "overweight" rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Truist Financial cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a report on Monday, October 21st. Barclays increased their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, UBS Group started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average price target of $98.07.
Check Out Our Latest Research Report on WAL
Western Alliance Bancorporation stock opened at $89.87 on Friday. The stock has a 50-day moving average price of $87.43 and a 200 day moving average price of $84.84. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.
Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.11 EPS for the current year.
A number of large investors have recently modified their holdings of the business. Creative Planning raised its holdings in Western Alliance Bancorporation by 6.1% in the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider's stock valued at $362,000 after acquiring an additional 330 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at approximately $221,000. SG Americas Securities LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth approximately $722,000. GAMMA Investing LLC boosted its stake in Western Alliance Bancorporation by 124.1% during the third quarter. GAMMA Investing LLC now owns 1,134 shares of the financial services provider's stock worth $98,000 after buying an additional 628 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $229,000. Hedge funds and other institutional investors own 79.15% of the company's stock.
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.
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