Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $105.00

Western Alliance Bancorporation (NYSE:WAL) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $107.00 to $105.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 28.35% from the company’s current price.

A number of other research firms have also recently issued reports on WAL. Wells Fargo & Company raised their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Barclays increased their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Wedbush lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group upped 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. One research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.13.

Western Alliance Bancorporation Stock Down 4.3 %

Shares of NYSE WAL traded down $3.72 during midday trading on Monday, reaching $81.81. 613,256 shares of the company’s stock traded hands, compared to its average volume of 1,309,622. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $82.58 and its 200-day simple moving average is $70.65. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $94.28. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.42%. The firm had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period last year, the firm earned $1.96 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts predict that Western Alliance Bancorporation will post 7.39 EPS for the current fiscal year.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,149 shares of company stock valued at $1,539,681 over the last 90 days. Corporate insiders own 2.75% of the company’s stock.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds have recently made changes to their positions in WAL. GAMMA Investing LLC lifted its holdings 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 worth $32,000 after acquiring an additional 183 shares during the last quarter. Oak Thistle LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter worth approximately $201,000. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter worth approximately $27,000. Principal Financial Group Inc. lifted its holdings in Western Alliance Bancorporation by 32.7% during the 1st quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock worth $579,000 after buying an additional 2,220 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Western Alliance Bancorporation by 1,649.6% during the 1st quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock worth $3,735,000 after buying an additional 54,865 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

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.