Barclays Issues Pessimistic Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Key Points

• Barclays cut its price target on Western Alliance from $90 to $88 but kept an "overweight" rating, implying about a 22.8% upside from the prior close.
• Other brokerages have also trimmed targets (range roughly $75–$105), yet the consensus remains a "Moderate Buy" with an average target near $93.80.
• The stock traded down to $71.69 despite an EPS beat ($2.59 vs. $2.40); the company shows solid fundamentals (P/E ~8.2, revenue up 17% YoY) and ~79% institutional ownership.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target cut by equities researchers at Barclays from $90.00 to $88.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Barclays's price objective points to a potential upside of 22.76% from the stock's previous close.

WAL has been the topic of several other research reports. Piper Sandler lowered their target price on shares of Western Alliance Bancorporation from $108.00 to $94.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd. Jefferies Financial Group restated an "overweight" rating and set a $105.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $83.00 to $79.00 in a research note on Monday, March 9th. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, January 9th. Finally, UBS Group restated a "neutral" rating and set a $75.00 target price (down from $106.00) on shares of Western Alliance Bancorporation in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.80.

Western Alliance Bancorporation Stock Down 1.9%

Western Alliance Bancorporation stock traded down $1.40 during mid-day trading on Tuesday, reaching $71.69. The stock had a trading volume of 415,378 shares, compared to its average volume of 1,366,345. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 0.63 and a beta of 1.37. The company has a 50-day moving average price of $81.06 and a two-hundred day moving average price of $82.47. Western Alliance Bancorporation has a one year low of $57.15 and a one year high of $97.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.19. The company had revenue of $890.80 million for the quarter, compared to analysts' expectations of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. Western Alliance Bancorporation's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. On average, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its stake in shares of Western Alliance Bancorporation by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider's stock worth $505,000 after purchasing an additional 113 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Western Alliance Bancorporation by 4.6% in the 4th quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider's stock worth $255,000 after purchasing an additional 133 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of Western Alliance Bancorporation by 1.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider's stock worth $1,242,000 after purchasing an additional 138 shares during the period. EJF Capital LLC lifted its stake in shares of Western Alliance Bancorporation by 2.5% in the 2nd quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider's stock worth $485,000 after purchasing an additional 149 shares during the period. Finally, Salzhauer Michael lifted its stake in shares of Western Alliance Bancorporation by 0.3% in the 3rd quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider's stock worth $3,886,000 after purchasing an additional 152 shares during the period. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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