Western Alliance Bancorporation (NYSE:WAL) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.55, MarketWatch Earnings reports. Western Alliance Bancorporation had a return on equity of 14.37% and a net margin of 32.82%. The firm had revenue of $338.60 million during the quarter, compared to analysts’ expectations of $315.88 million.
WAL stock opened at $71.19 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.95. Western Alliance Bancorporation has a 1-year low of $20.90 and a 1-year high of $73.59. The business has a 50 day simple moving average of $62.16 and a two-hundred day simple moving average of $45.00. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 16.75 and a beta of 1.76.
Several equities analysts have issued reports on WAL shares. Truist upped their target price on shares of Western Alliance Bancorporation from $41.00 to $50.00 in a research note on Monday, November 2nd. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $42.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Western Alliance Bancorporation in a research report on Friday, October 23rd. UBS Group upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $83.00 in a research note on Friday, January 8th. Finally, Stephens reiterated an “overweight” rating and set a $51.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $51.10.
About Western Alliance Bancorporation
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.
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