Western Alliance Bancorporation (NYSE:WAL) Price Target Raised to $116.00

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

A number of other equities research analysts have also weighed in on WAL. 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. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, DA Davidson cut their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $88.85 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market capitalization of $9.78 billion, a P/E ratio of 12.51, a PEG ratio of 0.61 and a beta of 1.46. The company has a 50 day moving average price of $87.58 and a 200 day moving average price of $84.77. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities research analysts forecast that Western Alliance Bancorporation will post 9.11 EPS for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently bought and sold shares of WAL. Smartleaf Asset Management LLC boosted its stake in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp boosted its stake in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc boosted its stake in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 157 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Western Alliance Bancorporation by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock valued at $1,359,000 after purchasing an additional 163 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Western Alliance Bancorporation by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 167 shares during the period. 79.15% of the stock is currently owned by hedge funds and other 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.