Western Alliance Bancorporation (NYSE:WAL) Stock Price Expected to Rise, Piper Sandler Analyst Says

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

A number of other brokerages have also issued reports on WAL. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Barclays raised their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. UBS Group assumed 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 for the company. Finally, Truist Financial reduced their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Up 2.6 %

Shares of NYSE:WAL opened at $88.85 on Monday. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company’s fifty day moving average is $87.58 and its two-hundred day moving average is $84.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last released 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 analysts anticipate 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 added to or reduced their stakes in WAL. State Street Corp raised its stake in shares of Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after acquiring an additional 1,418,472 shares during the last quarter. FMR LLC raised its stake in shares of Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after acquiring an additional 1,347,921 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Western Alliance Bancorporation by 4.1% in the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock valued at $164,019,000 after acquiring an additional 74,956 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after purchasing an additional 81,238 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Western Alliance Bancorporation by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock worth $162,701,000 after purchasing an additional 120,729 shares during the last quarter. 79.15% of the stock is 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.