Piper Sandler Forecasts Strong Price Appreciation for Western Alliance Bancorporation (NYSE:WAL) Stock

Western Alliance Bancorporation (NYSE:WAL) had its target price lifted by equities research analysts at Piper Sandler from $115.00 to $116.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 33.93% from the company’s previous close.

Several other equities analysts have also recently issued reports on WAL. Barclays lifted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Up 2.6 %

Shares of NYSE:WAL opened at $86.61 on Monday. The firm has a market capitalization of $9.53 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm’s 50-day moving average is $87.73 and its two-hundred day moving average is $84.70.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Analysts predict that Western Alliance Bancorporation will post 9.11 EPS for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds have recently made changes to their positions in WAL. Fifth Third Bancorp increased its position in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Western Alliance Bancorporation in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $33,000. UMB Bank n.a. lifted its holdings in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. Finally, Allworth Financial LP grew its position 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 valued at $37,000 after buying an additional 215 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.