UBS began coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Wednesday, www.benzinga.com reports. The firm issued a buy rating and a $70.00 target price on the financial services provider’s stock.
A number of other equities research analysts have also weighed in on WAL. Sandler O’Neill restated a buy rating and set a $69.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Zacks Investment Research lowered Western Alliance Bancorporation from a buy rating to a hold rating in a research note on Wednesday, February 28th. Stephens began coverage on Western Alliance Bancorporation in a research note on Wednesday, January 17th. They set an overweight rating and a $68.00 price objective for the company. Barclays raised their price objective on Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an overweight rating in a research note on Tuesday, January 2nd. Finally, SunTrust Banks restated a buy rating and set a $70.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $66.88.
Shares of WAL stock opened at $55.76 on Wednesday. Western Alliance Bancorporation has a 12 month low of $44.64 and a 12 month high of $62.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6,334.74, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.15 and a beta of 1.58.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.50% and a net margin of 36.56%. The firm had revenue of $224.72 million during the quarter, compared to analyst estimates of $225.19 million. During the same quarter last year, the firm earned $0.70 EPS. equities research analysts forecast that Western Alliance Bancorporation will post 4.01 earnings per share for the current year.
In other news, SVP J. Kelly Jr. Ardrey sold 538 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $60.30, for a total value of $32,441.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Randall S. Theisen sold 2,942 shares of Western Alliance Bancorporation stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the transaction, the executive vice president now owns 39,321 shares of the company’s stock, valued at approximately $2,319,939. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,787 shares of company stock valued at $5,265,384. Insiders own 7.95% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Maltese Capital Management LLC grew its position in shares of Western Alliance Bancorporation by 207.1% in the 3rd quarter. Maltese Capital Management LLC now owns 215,000 shares of the financial services provider’s stock worth $11,412,000 after acquiring an additional 145,000 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of Western Alliance Bancorporation by 8.5% in the 4th quarter. Eagle Asset Management Inc. now owns 776,340 shares of the financial services provider’s stock worth $44,072,000 after acquiring an additional 61,007 shares in the last quarter. Timber Hill LLC bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $208,000. Aurora Investment Counsel bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $2,208,000. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Western Alliance Bancorporation by 9.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 553,080 shares of the financial services provider’s stock worth $31,315,000 after purchasing an additional 48,720 shares during the last quarter. Institutional investors own 83.33% of the company’s stock.
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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.
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