Western Alliance Bancorporation (NYSE:WAL) Upgraded at StockNews.com

StockNews.com upgraded shares of Western Alliance Bancorporation (NYSE:WAL) from a sell rating to a hold rating in a report issued on Wednesday.

Several other equities analysts have also commented on WAL. Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. 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 price target on the stock. Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $97.07.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $87.84 on Wednesday. The firm has a fifty day moving average of $88.07 and a 200-day moving average of $84.32. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.67 billion, a P/E ratio of 12.37, a PEG ratio of 0.84 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, analysts predict that Western Alliance Bancorporation will post 8.86 EPS for the current year.

Institutional Trading of Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of Western Alliance Bancorporation by 119.5% during the second quarter. AQR Capital Management LLC now owns 252,690 shares of the financial services provider’s stock valued at $15,596,000 after buying an additional 137,577 shares during the last quarter. Creative Planning raised its holdings in 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 acquiring an additional 330 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth approximately $221,000. SG Americas Securities LLC acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $722,000. Finally, GAMMA Investing LLC increased its position in shares of Western Alliance Bancorporation by 124.1% during the third quarter. GAMMA Investing LLC now owns 1,134 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 628 shares during the period. 79.15% of the stock is owned by institutional investors.

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.