Barclays Cuts Western Alliance Bancorporation (NYSE:WAL) Price Target to $97.00

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target cut by equities research analysts at Barclays from $107.00 to $97.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Barclays's price objective indicates a potential upside of 53.79% from the stock's current price.

WAL has been the topic of several other research reports. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a "buy" rating and a $115.00 price objective for the company. Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. DA Davidson cut their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Piper Sandler boosted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.40.

Western Alliance Bancorporation Trading Down 0.3 %

WAL stock traded down $0.16 during midday trading on Tuesday, reaching $63.07. The company's stock had a trading volume of 1,531,256 shares, compared to its average volume of 1,214,046. The business's 50-day simple moving average is $78.97 and its 200-day simple moving average is $84.55. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The stock has a market cap of $6.97 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. Ashton Thomas Private Wealth LLC raised its position in shares of Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after acquiring an additional 114 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp increased its holdings in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares in the last quarter. Versant Capital Management Inc lifted its stake in Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock valued at $111,000 after buying an additional 157 shares during the period. Finally, MidWestOne Financial Group Inc. grew its holdings in Western Alliance Bancorporation by 0.6% in the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock worth $2,226,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds 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.