Western Alliance Bancorporation (NYSE:WAL) PT Raised to $107.00

Western Alliance Bancorporation (NYSE:WAL) had its target price raised by stock analysts at JPMorgan Chase & Co. from $100.00 to $107.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 25.23% from the company’s current price.

WAL has been the subject of several other reports. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Bank of America increased 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. Royal Bank of Canada increased their price objective on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.53.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $85.44 on Wednesday. The stock has a market capitalization of $9.41 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.60 and a beta of 1.44. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $88.92. The business’s fifty day moving average is $80.42 and its two-hundred day moving average is $69.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The company had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. During the same quarter in the prior year, the company earned $1.96 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, research analysts forecast that Western Alliance Bancorporation will post 7.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Western Alliance Bancorporation 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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert P. Latta sold 2,996 shares of the business’s 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,265 shares of company stock valued at $1,700,391. Company insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently made changes to their positions in WAL. Exchange Traded Concepts LLC lifted its position in Western Alliance Bancorporation by 3.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,152 shares of the financial services provider’s stock valued at $1,656,000 after acquiring an additional 648 shares in the last quarter. Inspire Investing LLC lifted its position in Western Alliance Bancorporation by 36.7% in the 3rd quarter. Inspire Investing LLC now owns 13,422 shares of the financial services provider’s stock valued at $1,161,000 after acquiring an additional 3,601 shares in the last quarter. Watts Gwilliam & Co. LLC bought a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $203,000. UMB Bank n.a. lifted its position in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in Western Alliance Bancorporation by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds 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.