Brokerages Set Western Alliance Bancorporation (NYSE:WAL) Target Price at $94.31

Western Alliance Bancorporation (NYSE:WAL) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $97.07.

Several equities research analysts have recently issued reports on WAL shares. DA Davidson lowered their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday. Truist Financial lowered their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Barclays lifted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Piper Sandler dropped their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $89.62 on Tuesday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market capitalization of $9.86 billion, a PE ratio of 13.83, a P/E/G ratio of 0.88 and a beta of 1.46. The stock has a 50-day simple moving average of $88.11 and a two-hundred day simple moving average of $84.29.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share 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%. Analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently made changes to their positions in WAL. Fifth Third Bancorp raised its position in shares of 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 buying an additional 136 shares in the last quarter. Versant Capital Management Inc raised its position in Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 157 shares during the period. Pacer Advisors Inc. raised its position in Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 163 shares during the period. Blue Trust Inc. boosted its stake in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the period. Finally, Allworth Financial LP grew its holdings in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other 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.