Wells Fargo & Company Boosts Western Alliance Bancorporation (NYSE:WAL) Price Target to $102.00

Western Alliance Bancorporation (NYSE:WAL) had its target price increased by Wells Fargo & Company from $92.00 to $102.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.49% from the company’s current price.

Other analysts also recently issued reports about the stock. Wedbush boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Truist Financial cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.40.

Western Alliance Bancorporation Stock Performance

WAL opened at $92.32 on Tuesday. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1-year low of $53.22 and a 1-year high of $98.10. The business has a 50 day moving average price of $88.14 and a two-hundred day moving average price of $77.27.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Research analysts predict that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Western Alliance Bancorporation 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 sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This represents a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently bought and sold shares of WAL. Blue Trust Inc. lifted its stake in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares during the period. UMB Bank n.a. lifted 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 during the period. Signaturefd LLC lifted its stake in shares of Western Alliance Bancorporation by 18.7% in the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock valued at $138,000 after buying an additional 252 shares during the period. Wedmont Private Capital lifted its stake in shares of Western Alliance Bancorporation by 5.7% in the third quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider’s stock valued at $429,000 after buying an additional 276 shares during the period. Finally, Creative Planning lifted its stake in shares of Western Alliance Bancorporation by 6.1% in the second quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock valued at $362,000 after buying an additional 330 shares during the period. 79.15% of the stock is currently owned by 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.