Western Alliance Bancorporation (NYSE:WAL) Price Target Cut to $95.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective lowered by equities researchers at Truist Financial from $100.00 to $95.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 15.24% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Bank of America lifted their price objective on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Stephens reaffirmed an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Finally, Piper Sandler set a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.60.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $82.44 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $94.28. The firm has a market capitalization of $9.08 billion, a PE ratio of 12.72, a P/E/G ratio of 1.30 and a beta of 1.44. The stock’s 50 day moving average is $82.89 and its two-hundred day moving average is $70.95.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Stephen Russell Curley sold 5,070 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now directly owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,149 shares of company stock worth $1,539,681. 2.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WAL. Cincinnati Insurance Co. bought a new position in Western Alliance Bancorporation during the first quarter valued at about $46,538,000. LHM Inc. boosted its holdings in Western Alliance Bancorporation by 2,141.1% during the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock worth $47,606,000 after buying an additional 723,995 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Western Alliance Bancorporation by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after purchasing an additional 717,242 shares during the period. Dimensional Fund Advisors LP boosted its stake in Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after purchasing an additional 636,577 shares during the period. Finally, Vanguard Group Inc. grew its position in Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after purchasing an additional 395,101 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

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.