Western Alliance Bancorporation (NYSE:WAL) Receives Outperform Rating from Wedbush

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “outperform” rating reissued by Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $70.00 target price on the financial services provider’s stock. Wedbush’s price objective would indicate a potential upside of 9.86% from the stock’s current price. Wedbush also issued estimates for Western Alliance Bancorporation’s Q4 2024 earnings at $2.34 EPS, FY2024 earnings at $7.80 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.36 EPS and Q3 2025 earnings at $2.47 EPS.

WAL has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Jefferies Financial Group decreased their target price on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada lowered their price target on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Hovde Group initiated coverage on Western Alliance Bancorporation in a research note on Monday, April 22nd. They set an “outperform” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Western Alliance Bancorporation Trading Up 1.2 %

Shares of WAL opened at $63.72 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. Western Alliance Bancorporation has a one year low of $25.62 and a one year high of $70.23. The stock has a 50-day moving average price of $59.64 and a 200 day moving average price of $57.90. The company has a market capitalization of $7.02 billion, a P/E ratio of 9.29 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same quarter last year, the company earned $2.30 earnings per share. Sell-side analysts forecast that Western Alliance Bancorporation will post 7.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the first quarter worth about $27,000. GAMMA Investing LLC lifted its stake in shares of Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Western Alliance Bancorporation by 422.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 760 shares during the period. Rakuten Securities Inc. bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $65,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $93,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Company Profile

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.