Barclays Lowers Western Alliance Bancorporation (NYSE:WAL) Price Target to $105.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective reduced by research analysts at Barclays from $110.00 to $105.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 27.52% from the company’s current price.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Bank of America upped their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Piper Sandler dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group boosted their price target on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company upped their price target on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.60.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $82.34 on Tuesday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.30 and a beta of 1.44. The business’s 50 day moving average is $83.04 and its two-hundred day moving average is $71.03. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $94.28. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Insider Activity at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the transaction, the insider now owns 36,718 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,149 shares of company stock worth $1,539,681. 2.75% of the stock is currently owned by insiders.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth about $33,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Western Alliance Bancorporation in the first quarter worth about $27,000. UMB Bank n.a. grew its stake in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 valued at $32,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.