Western Alliance Bancorporation (NYSE:WAL) Stock Rating Upgraded by StockNews.com

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

WAL has been the topic of a number of other reports. DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company decreased their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Finally, Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.07.

Western Alliance Bancorporation Trading Down 1.7 %

Shares of WAL stock opened at $87.84 on Wednesday. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The firm has a 50-day moving average price of $88.07 and a 200 day moving average price of $84.32. 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 company has a market capitalization of $9.67 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.84 and a beta of 1.46.

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

Institutional Trading of Western Alliance Bancorporation

Hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock valued at $8,090,000 after purchasing an additional 8,201 shares during the period. Angel Oak Capital Advisors LLC acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at $919,000. Venturi Wealth Management LLC increased its position in shares of Western Alliance Bancorporation by 86.4% in the 4th quarter. Venturi Wealth Management LLC now owns 5,649 shares of the financial services provider’s stock valued at $472,000 after buying an additional 2,618 shares in the last quarter. CIBC Asset Management Inc raised its stake in Western Alliance Bancorporation by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider’s stock worth $283,000 after buying an additional 167 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in Western Alliance Bancorporation by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 7,431 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 306 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.