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

Western Alliance Bancorporation (NYSE:WAL) had its target price cut by stock analysts at JPMorgan Chase & Co. from $107.00 to $105.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 27.37% from the stock’s previous close.

Several other research analysts also recently commented on WAL. Truist Financial lifted their target price on Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Piper Sandler set a $102.00 price target on Western Alliance Bancorporation in a report on Friday. Wedbush boosted their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Bank of America increased 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 note on Monday, July 22nd. Finally, Stephens reaffirmed an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Western Alliance Bancorporation Stock Up 2.4 %

Shares of NYSE WAL opened at $82.44 on Monday. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $94.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. 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. The company has a 50 day simple moving average of $82.89 and a 200 day simple moving average of $70.95.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the company’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 value of $247,919.00. Following the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 completion of the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,149 shares of company stock valued at $1,539,681 in the last quarter. 2.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently bought and sold shares of WAL. GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Western Alliance Bancorporation during the 1st quarter valued at about $201,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at about $27,000. Principal Financial Group Inc. raised its stake in Western Alliance Bancorporation by 32.7% in the first quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock worth $579,000 after buying an additional 2,220 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Western Alliance Bancorporation by 1,649.6% during the 1st quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock worth $3,735,000 after acquiring an additional 54,865 shares during the period. Hedge funds and other 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.