Western Alliance Bancorporation (NYSE:WAL) Given Average Recommendation of “Moderate Buy” by Analysts

Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $101.20.

Several analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. DA Davidson raised their price objective on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Citigroup reissued a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Finally, National Bankshares set a $118.00 target price on Western Alliance Bancorporation in a report on Wednesday, September 24th.

Western Alliance Bancorporation Stock Performance

WAL opened at $76.09 on Thursday. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The company has a 50 day simple moving average of $84.88 and a two-hundred day simple moving average of $79.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.79. The firm has a market cap of $8.40 billion, a P/E ratio of 9.40, a PEG ratio of 0.54 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The company had revenue of $718.00 million for the quarter. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in shares of Western Alliance Bancorporation by 5.9% in the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock valued at $466,821,000 after acquiring an additional 339,758 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Western Alliance Bancorporation by 0.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock worth $276,954,000 after purchasing an additional 26,995 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Western Alliance Bancorporation by 0.9% during the second quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after purchasing an additional 20,704 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Western Alliance Bancorporation by 11.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock worth $190,318,000 after purchasing an additional 223,425 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Western Alliance Bancorporation by 5.4% in the second quarter. Geode Capital Management LLC now owns 2,035,515 shares of the financial services provider’s stock worth $158,755,000 after acquiring an additional 104,182 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

About Western Alliance Bancorporation

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.