Western Alliance Bancorporation (NYSE:WAL) PT Raised to $77.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective upped by Jefferies Financial Group from $70.00 to $77.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 20.41% from the company’s previous close.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods cut their price target on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Hovde Group began coverage on Western Alliance Bancorporation in a research note on Monday, April 22nd. They issued an “outperform” rating and a $75.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Wedbush reissued an “outperform” rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.21.

Western Alliance Bancorporation Trading Down 0.3 %

NYSE:WAL opened at $63.95 on Wednesday. Western Alliance Bancorporation has a 52-week low of $35.67 and a 52-week high of $70.23. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $61.35 and a 200-day simple moving average of $61.37. The company has a market capitalization of $7.04 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same period last year, the company posted $2.30 EPS. On average, equities research analysts expect that Western Alliance Bancorporation will post 7.42 earnings per share for the current fiscal year.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total transaction of $64,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,636 shares of the company’s stock, valued at approximately $361,831.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.75% of the company’s stock.

Institutional Trading of Western Alliance Bancorporation

Several institutional investors have recently added to or reduced their stakes in WAL. WCM Investment Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $12,387,000. Smead Capital Management Inc. bought a new stake in Western Alliance Bancorporation in the fourth quarter valued at $77,957,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at $917,000. Strs Ohio grew its position in shares of Western Alliance Bancorporation by 35.3% during the fourth quarter. Strs Ohio now owns 86,600 shares of the financial services provider’s stock worth $5,697,000 after acquiring an additional 22,600 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Western Alliance Bancorporation by 166.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 32,349 shares of the financial services provider’s stock worth $2,128,000 after acquiring an additional 20,198 shares during the period. Institutional investors own 79.15% of the company’s stock.

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.