Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $75.00 at Truist Financial

Western Alliance Bancorporation (NYSE:WAL) had its price target cut by research analysts at Truist Financial from $80.00 to $75.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 25.40% from the stock’s previous close.

WAL has been the topic of a number of other reports. Wedbush reduced their target price on shares of Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. DA Davidson lowered their target price on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Monday. Barclays started coverage on Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an “overweight” rating and a $91.00 price objective for the company. Hovde Group started coverage on Western Alliance Bancorporation in a research note on Monday. They issued an “outperform” rating and a $75.00 price target on the stock. Finally, Citigroup upped their price objective on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.56.

Western Alliance Bancorporation Stock Performance

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

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

Institutional Trading of Western Alliance Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares in the last quarter. Riverwater Partners LLC grew its holdings in shares of Western Alliance Bancorporation by 0.7% in the 4th quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock worth $1,920,000 after purchasing an additional 211 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Western Alliance Bancorporation by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock worth $2,182,000 after purchasing an additional 240 shares during the last quarter. Madison Asset Management LLC lifted its holdings in Western Alliance Bancorporation by 0.4% during the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock valued at $4,959,000 after purchasing an additional 297 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its position in Western Alliance Bancorporation by 2.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 11,373 shares of the financial services provider’s stock valued at $749,000 after buying an additional 303 shares in the last quarter. Institutional investors 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.