Piper Sandler Raises Western Alliance Bancorporation (NYSE:WAL) Price Target to $116.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective hoisted by Piper Sandler from $115.00 to $116.00 in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

WAL has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company cut their price objective 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. UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Down 3.9 %

Western Alliance Bancorporation stock opened at $84.48 on Monday. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.61 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $87.96 and its two-hundred day moving average price is $84.60. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. On average, analysts expect that Western Alliance Bancorporation will post 9.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its stake in shares of Western Alliance Bancorporation by 6.1% in the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 330 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $221,000. SG Americas Securities LLC bought a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $722,000. GAMMA Investing LLC increased its position in Western Alliance Bancorporation by 124.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,134 shares of the financial services provider’s stock worth $98,000 after buying an additional 628 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in Western Alliance Bancorporation during the 3rd quarter worth $229,000. 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.