Western Alliance Bancorporation (NYSE:WAL) Raised to “Moderate Buy” at Raymond James Financial

by · The Markets Daily

Western Alliance Bancorporation (NYSE:WAL – Get Free Report) was upgraded by analysts at Raymond James Financial to a “moderate buy” rating in a report issued on Tuesday, Zacks reports.

Several other equities research analysts have also issued reports on WAL. JPMorgan Chase & Co. lifted their price target on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Piper Sandler upped their target price on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Citigroup lowered their price objective on shares of Western Alliance Bancorporation from $98.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

View Our Latest Research Report on WAL

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $77.81 on Tuesday. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. The stock has a market cap of $8.49 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 0.76 and a beta of 1.33. The firm’s fifty day moving average price is $80.64 and its 200-day moving average price is $78.42.

Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.36. The company had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. On average, equities research analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Institutional Trading of Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Western Alliance Bancorporation in the 2nd quarter worth $174,329,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $1,877,000. Independent Financial Group LLC purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at about $924,000. GSA Capital Partners LLP bought a new position in Western Alliance Bancorporation in the second quarter worth about $2,051,000. Finally, Hsbc Holdings PLC lifted its holdings in Western Alliance Bancorporation by 635.0% in the first quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider’s stock worth $3,409,000 after buying an additional 41,786 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

(Get Free Report)

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners’ associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.

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