Barclays Lowers Western Alliance Bancorporation (NYSE:WAL) Price Target to $86.00

Western Alliance Bancorporation (NYSE:WAL) had its target price dropped by equities research analysts at Barclays from $91.00 to $86.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 44.83% from the stock’s current price.

A number of other research firms have also issued reports on WAL. Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Citigroup boosted their target price 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 reissued an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Hovde Group initiated coverage on Western Alliance Bancorporation in a report on Monday. They set an “outperform” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Western Alliance Bancorporation Trading Down 0.7 %

Shares of NYSE:WAL opened at $59.38 on Tuesday. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 8.66 and a beta of 1.47. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. The company has a 50 day moving average price of $59.41 and a 200 day moving average price of $56.84. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping 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 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 firm earned $2.30 earnings per share. On average, research analysts anticipate that Western Alliance Bancorporation will post 7.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Western Alliance Bancorporation by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock valued at $460,724,000 after purchasing an additional 74,824 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Western Alliance Bancorporation by 3.8% during the 3rd quarter. William Blair Investment Management LLC now owns 3,443,399 shares of the financial services provider’s stock worth $158,293,000 after buying an additional 125,392 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Western Alliance Bancorporation by 50.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,452,203 shares of the financial services provider’s stock valued at $161,339,000 after buying an additional 824,636 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Western Alliance Bancorporation by 103.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock worth $113,510,000 after acquiring an additional 876,413 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Western Alliance Bancorporation by 39.6% during the third quarter. FMR LLC now owns 1,371,939 shares of the financial services provider’s stock valued at $63,068,000 after acquiring an additional 389,327 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

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.