Western Alliance Bancorporation (WAL) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average rating of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $66.85.

Several analysts have issued reports on the stock. Piper Jaffray Companies restated a “buy” rating and set a $64.50 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Barclays upped their price target on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Stephens assumed coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, January 17th. They set an “overweight” rating and a $68.00 price target for the company. Wells Fargo & Co upgraded shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Monday, January 29th. Finally, DA Davidson restated a “buy” rating and set a $64.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd.

In other news, EVP Randall S. Theisen sold 2,942 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total transaction of $173,578.00. Following the completion of the transaction, the executive vice president now directly owns 39,321 shares of the company’s stock, valued at $2,319,939. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $56.36, for a total transaction of $169,080.00. Following the transaction, the executive vice president now directly owns 20,200 shares of the company’s stock, valued at $1,138,472. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Several large investors have recently modified their holdings of WAL. Janus Henderson Group PLC bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at about $3,685,000. State Street Corp raised its stake in shares of Western Alliance Bancorporation by 8.8% during the second quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock valued at $178,321,000 after acquiring an additional 293,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at about $202,000. Nomura Holdings Inc. raised its stake in shares of Western Alliance Bancorporation by 55.5% during the second quarter. Nomura Holdings Inc. now owns 13,750 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 4,909 shares during the last quarter. Finally, Koch Industries Inc. raised its stake in shares of Western Alliance Bancorporation by 4,291.0% during the second quarter. Koch Industries Inc. now owns 272,285 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 266,084 shares during the last quarter. 81.96% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation (NYSE WAL) traded up $0.82 during midday trading on Wednesday, reaching $61.16. 593,600 shares of the company’s stock traded hands, compared to its average volume of 750,224. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $61.50. The stock has a market capitalization of $6,451.58, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.82%. The business had revenue of $224.72 million during the quarter, compared to analyst estimates of $225.19 million. During the same period in the prior year, the business posted $0.70 earnings per share. equities analysts expect that Western Alliance Bancorporation will post 4.01 earnings per share for the current year.

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Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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