Analysts Set Western Alliance Bancorporation (WAL) Price Target at $67.50

Western Alliance Bancorporation (NYSE:WAL) has been given an average rating of “Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $67.50.

Several research analysts recently issued reports on the company. ValuEngine lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Citigroup assumed coverage on Western Alliance Bancorporation in a research report on Monday, June 18th. They set a “neutral” rating and a $69.00 target price for the company. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Wednesday, March 21st. They set a “buy” rating and a $70.00 target price for the company. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $68.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, April 20th.

Western Alliance Bancorporation traded down $0.77, hitting $60.20, during trading hours on Tuesday, MarketBeat reports. 549,419 shares of the company were exchanged, compared to its average volume of 551,144. The firm has a market cap of $6.45 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.16 and a beta of 1.57. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. Western Alliance Bancorporation has a one year low of $44.83 and a one year high of $64.06.



Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, April 19th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The business had revenue of $226.90 million during the quarter, compared to analyst estimates of $232.59 million. Western Alliance Bancorporation had a return on equity of 16.18% and a net margin of 37.80%. Western Alliance Bancorporation’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. equities research analysts expect that Western Alliance Bancorporation will post 4.05 EPS for the current year.

In other news, Director Sung Won Sohn sold 2,500 shares of Western Alliance Bancorporation stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 5,310 shares of the company’s stock, valued at approximately $318,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gerald A. Cady sold 5,500 shares of Western Alliance Bancorporation stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $60.00, for a total value of $330,000.00. Following the completion of the transaction, the executive vice president now directly owns 87,789 shares of the company’s stock, valued at $5,267,340. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,352 shares of company stock valued at $1,057,301. Corporate insiders own 7.48% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $124,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Western Alliance Bancorporation by 44.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,344 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 1,023 shares during the last quarter. Timber Hill LLC acquired a new position in Western Alliance Bancorporation during the 4th quarter valued at about $208,000. Clinton Group Inc. acquired a new position in Western Alliance Bancorporation during the 1st quarter valued at about $212,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Western Alliance Bancorporation during the 1st quarter valued at about $237,000. Institutional investors own 83.19% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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