Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $101.00

Western Alliance Bancorporation (NYSE:WAL) had its target price dropped by equities research analysts at Piper Sandler from $102.00 to $101.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 22.51% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Jefferies Financial Group increased their price objective on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Stephens reaffirmed an “overweight” rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Finally, Bank of America raised their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $82.44 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The firm’s 50 day simple moving average is $82.89 and its 200-day simple moving average is $70.95. The firm has a market cap of $9.08 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $94.28.

Insider Activity

In other news, insider Stephen Russell Curley sold 5,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This 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 available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on 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 directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,149 shares of company stock worth $1,539,681 over the last ninety days. Corporate insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cincinnati Insurance Co. acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at $46,538,000. LHM Inc. boosted its holdings in shares of Western Alliance Bancorporation by 2,141.1% in the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after acquiring an additional 723,995 shares during the period. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 717,242 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $233,832,000 after acquiring an additional 636,577 shares during the period. Finally, Vanguard Group Inc. raised its position in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after purchasing an additional 395,101 shares during the last quarter. Institutional investors and hedge funds 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.