Barclays Increases Western Alliance Bancorporation (NYSE:WAL) Price Target to $107.00

Western Alliance Bancorporation (NYSE:WAL) had its price target boosted by research analysts at Barclays from $105.00 to $107.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 19.06% from the company’s previous close.

Several other brokerages have also commented on WAL. Wedbush upped their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Bank of America raised their price objective on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Truist Financial dropped their target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Western Alliance Bancorporation Price Performance

WAL stock opened at $89.87 on Friday. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52-week low of $43.20 and a 52-week high of $96.45. The stock’s fifty day simple moving average is $84.55 and its 200-day simple moving average is $73.29.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The business had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Equities research analysts expect that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Insider Activity

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents 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 accessible through this link. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, valued at $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in Western Alliance Bancorporation by 0.6% in the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 164 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the period. Versant Capital Management Inc raised its holdings in shares of Western Alliance Bancorporation by 26.5% during the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after buying an additional 244 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Western Alliance Bancorporation by 18.7% during the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock worth $138,000 after buying an additional 252 shares during the period. 79.15% of the stock is currently 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.