Western Alliance Bancorporation (NYSE:WAL) Rating Reiterated by Stephens

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a report issued on Friday, MarketBeat reports. They currently have a $102.00 price target on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 19.26% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Truist Financial increased their price target on Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Jefferies Financial Group lifted their price objective on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.27.

Western Alliance Bancorporation Stock Down 8.9 %

NYSE:WAL opened at $85.53 on Friday. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $94.28. The stock’s 50 day moving average price is $82.58 and its two-hundred day moving average price is $70.58.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The firm had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. During the same period in the prior year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Western Alliance Bancorporation will post 7.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares in the company, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, valued at $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,265 shares of company stock worth $1,700,391 in the last 90 days. Company insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation during the third quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.