Stephens Reaffirms Overweight Rating for Western Alliance Bancorporation (NYSE:WAL)

Stephens reiterated their overweight rating on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note published on Tuesday morning,Benzinga reports. Stephens currently has a $103.00 target price on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on WAL. 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 note on Friday, November 8th. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.07.

Western Alliance Bancorporation Trading Up 1.8 %

WAL stock opened at $89.62 on Tuesday. The business has a fifty day moving average of $88.11 and a 200-day moving average of $84.29. The company has a market cap of $9.86 billion, a P/E ratio of 13.83, a PEG ratio of 0.88 and a beta of 1.46. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. 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 (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, equities research analysts expect that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WAL. Fifth Third Bancorp grew its stake in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares in the last quarter. Versant Capital Management Inc lifted its stake in 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 acquiring an additional 157 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Western Alliance Bancorporation by 1.0% in the 4th 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 last quarter. Blue Trust Inc. lifted its position 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 buying an additional 187 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

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.