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

Investment analysts at Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) in a report issued on Wednesday, Marketbeat.com reports. The firm set a "buy" rating and a $95.00 price target on the financial services provider's stock. Jefferies Financial Group's price target points to a potential upside of 32.77% from the stock's current price.

A number of other analysts have also weighed in on the stock. Truist Financial initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They set a "buy" rating and a $92.00 price objective for the company. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Barclays decreased their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus price target of $97.77.

Western Alliance Bancorporation Stock Down 0.9%

Shares of Western Alliance Bancorporation stock traded down $0.68 during trading on Wednesday, hitting $71.56. The company's stock had a trading volume of 481,700 shares, compared to its average volume of 1,227,333. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10. The company has a market capitalization of $7.90 billion, a PE ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.30. The company has a fifty day simple moving average of $71.62 and a two-hundred day simple moving average of $81.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

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

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC raised its position in shares of Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after buying an additional 114 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 valued at $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp grew its position in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after purchasing an additional 141 shares during the last quarter. Finally, MidWestOne Financial Group Inc. increased its stake in Western Alliance Bancorporation by 0.6% in the 4th quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock worth $2,226,000 after buying an additional 160 shares during the period. Institutional investors own 79.15% of the company's stock.

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.