Piper Sandler Issues Positive Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its target price raised by Piper Sandler from $115.00 to $116.00 in a report published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other analysts also recently issued reports on WAL. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Stock Down 3.9 %

Shares of NYSE:WAL opened at $84.48 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a 50-day moving average price of $87.96 and a 200 day moving average price of $84.60. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.61 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.11 earnings per share for the current year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth $33,000. Allworth Financial LP grew its holdings in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in 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 worth $37,000 after purchasing an additional 249 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other 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.