Western Alliance Bancorporation (NYSE:WAL) Now Covered by UBS Group

UBS Group started coverage on shares of Western Alliance Bancorporation (NYSE:WAL – Get Rating) in a note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating and a $85.00 price target on the financial services provider’s stock. UBS Group’s target price would suggest a potential upside of 130.29% from the stock’s current price.

WAL has been the subject of several other research reports. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Monday, February 27th. Stephens increased their price target on Western Alliance Bancorporation from $80.00 to $86.00 in a report on Thursday, January 26th. Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $90.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $89.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, December 13th. Finally, TheStreet upgraded shares of Western Alliance Bancorporation from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $84.89.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $36.91 on Wednesday. The company has a market capitalization of $4.05 billion, a PE ratio of 3.81, a PEG ratio of 0.25 and a beta of 1.44. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.98 and a current ratio of 1.00. The company’s 50 day moving average price is $67.89 and its 200 day moving average price is $67.13. Western Alliance Bancorporation has a 52 week low of $7.46 and a 52 week high of $89.26.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.67. The firm had revenue of $701.20 million during the quarter, compared to analysts’ expectations of $733.13 million. Western Alliance Bancorporation had a return on equity of 22.00% and a net margin of 34.94%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 earnings per share. Research analysts expect that Western Alliance Bancorporation will post 10.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Marianne Boyd Johnson bought 2,475 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $25.79 per share, for a total transaction of $63,830.25. Following the transaction, the director now directly owns 2,475 shares of the company’s stock, valued at $63,830.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 1,750 shares of Western Alliance Bancorporation stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $73.16, for a total value of $128,030.00. Following the completion of the transaction, the insider now owns 20,244 shares in the company, valued at approximately $1,481,051.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marianne Boyd Johnson acquired 2,475 shares of Western Alliance Bancorporation stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $25.79 per share, for a total transaction of $63,830.25. Following the purchase, the director now owns 2,475 shares of the company’s stock, valued at approximately $63,830.25. The disclosure for this purchase can be found here. Corporate insiders own 2.57% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. Rockefeller Capital Management L.P. lifted its position in shares of Western Alliance Bancorporation by 7.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,640 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 391 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Western Alliance Bancorporation by 1.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 33,790 shares of the financial services provider’s stock valued at $2,013,000 after buying an additional 637 shares during the period. Alliancebernstein L.P. raised its position in shares of Western Alliance Bancorporation by 10.8% during the fourth quarter. Alliancebernstein L.P. now owns 122,158 shares of the financial services provider’s stock worth $7,276,000 after acquiring an additional 11,940 shares during the last quarter. Point72 Middle East FZE bought a new position in Western Alliance Bancorporation in the fourth quarter valued at about $109,000. Finally, CI Private Wealth LLC bought a new position in Western Alliance Bancorporation in the fourth quarter valued at about $1,554,000. Institutional investors own 84.68% of the company’s stock.

Western Alliance Bancorporation Company Profile

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.