Western Alliance Bancorporation (NYSE:WAL) Now Covered by Jefferies Financial Group

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

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

Western Alliance Bancorporation Stock Down 0.9%

NYSE:WAL traded down $0.68 during trading hours on Wednesday, reaching $71.56. 481,700 shares of the company traded hands, compared to its average volume of 1,224,790. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The business's 50-day moving average price is $71.62 and its two-hundred day moving average price is $81.78. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The stock has a market capitalization of $7.90 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.30.

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

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its position in 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 worth $466,821,000 after purchasing an additional 339,758 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock valued at $498,612,000 after buying an additional 154,575 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in 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 valued at $276,954,000 after buying an additional 26,995 shares during the last quarter. Janus Henderson Group PLC raised its position in Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after acquiring an additional 445,176 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in Western Alliance Bancorporation by 1.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock worth $146,668,000 after acquiring an additional 25,260 shares during the period. Hedge funds and other 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.