Western Alliance Bancorporation (NYSE:WAL) Coverage Initiated at Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $95.00 price target on the financial services provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 31.67% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Truist Financial initiated coverage on Western Alliance Bancorporation in a research report on Tuesday, May 13th. They set a “buy” rating and a $92.00 target price on the stock. Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler lifted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, DA Davidson decreased their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.77.

Western Alliance Bancorporation Trading Up 0.4%

Western Alliance Bancorporation stock opened at $72.15 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The business’s 50-day simple moving average is $71.69 and its 200-day simple moving average is $81.87. The firm has a market capitalization of $7.97 billion, a PE ratio of 10.16, a PEG ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The business had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same period last year, the business earned $1.72 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Western Alliance Bancorporation by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after acquiring an additional 35,276 shares during the last quarter. United Services Automobile Association bought a new position in shares of Western Alliance Bancorporation in the first quarter valued at approximately $527,000. Great Lakes Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 136.1% in the first quarter. Great Lakes Advisors LLC now owns 170,071 shares of the financial services provider’s stock valued at $13,067,000 after acquiring an additional 98,051 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Western Alliance Bancorporation by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after acquiring an additional 21,642 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Western Alliance Bancorporation by 513.5% in the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,448 shares during the last quarter. 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.