Stephens Reaffirms Overweight Rating for Western Alliance Bancorporation (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They currently have a $103.00 price target on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 16.71% from the stock’s current price.

A number of other equities research analysts also recently issued reports on WAL. Piper Sandler reduced their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. UBS Group started coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. Finally, Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.07.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $88.25 on Tuesday. The company has a 50-day simple moving average of $88.13 and a two-hundred day simple moving average of $84.26. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46. 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) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors have recently made changes to their positions in WAL. Fifth Third Bancorp lifted its holdings in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $33,000. UMB Bank n.a. grew its holdings in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Finally, Blue Trust Inc. increased its position 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 worth $44,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.