DA Davidson Has Lowered Expectations for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price target reduced by equities researchers at DA Davidson from $110.00 to $106.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 18.28% from the company’s current price.

Several other analysts also recently weighed in on WAL. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. UBS Group started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.07.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $89.62 on Wednesday. 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 market capitalization of $9.86 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.88 and a beta of 1.46. The firm’s 50-day moving average is $88.11 and its 200 day moving average is $84.29.

Western Alliance Bancorporation (NYSE:WAL) last released its 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 return on equity of 13.16% and a net margin of 14.66%. Research analysts predict that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of large investors have recently added to or reduced their stakes in the company. Retirement Systems of Alabama bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $11,461,000. Franklin Resources Inc. boosted its stake in Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock valued at $27,970,000 after acquiring an additional 45,764 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth $5,099,000. BNP Paribas Financial Markets increased its position in shares of Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after purchasing an additional 31,214 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at $623,000. 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.