Western Alliance Bancorporation (NYSE:WAL) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $98.07.

A number of research firms have issued reports on WAL. Truist Financial reduced their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Barclays boosted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth $33,000. UMB Bank n.a. grew its position in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares during the period. Finally, Allworth Financial LP increased its stake in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $84.48 on Tuesday. The stock has a market capitalization of $9.30 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The stock’s 50-day moving average price is $87.96 and its 200-day moving average price is $84.60. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, equities analysts expect that Western Alliance Bancorporation will post 9.11 EPS for the current fiscal year.

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.