Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $74.00 at Keefe, Bruyette & Woods

Western Alliance Bancorporation (NYSE:WAL) had its price objective lowered by stock analysts at Keefe, Bruyette & Woods from $79.00 to $74.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 23.73% from the company’s current price.

Several other research analysts also recently weighed in on WAL. Truist Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. Citigroup boosted their price objective on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Stephens restated an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Hovde Group began coverage on shares of Western Alliance Bancorporation in a research note on Monday. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $78.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $70.56.

Western Alliance Bancorporation Stock Up 1.9 %

WAL stock opened at $59.81 on Monday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 8.72 and a beta of 1.47. The company has a fifty day moving average price of $59.43 and a 200 day moving average price of $56.82. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 12 month low of $11.35 and a 12 month high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. During the same period in the previous year, the business posted $2.30 earnings per share. Sell-side analysts expect that Western Alliance Bancorporation will post 7.87 earnings per share for the current year.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently made changes to their positions in the stock. Smead Capital Management Inc. acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $77,957,000. Barclays PLC grew its stake in Western Alliance Bancorporation by 489.0% in the 3rd quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock worth $61,320,000 after acquiring an additional 1,107,431 shares during the period. Norges Bank acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $67,758,000. Vaughan Nelson Investment Management L.P. raised its holdings in Western Alliance Bancorporation by 103.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock valued at $113,510,000 after acquiring an additional 876,413 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Western Alliance Bancorporation by 50.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,452,203 shares of the financial services provider’s stock worth $161,339,000 after purchasing an additional 824,636 shares during the period. 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.