Western Alliance Bancorporation (NYSE:WAL) Price Target Raised to $96.00 at Truist Financial

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target increased by equities research analysts at Truist Financial from $92.00 to $96.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Truist Financial's price objective would suggest a potential upside of 12.70% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Stephens reaffirmed an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Barclays lifted their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada decreased their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Citigroup raised their price target on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Western Alliance Bancorporation Stock Performance

WAL traded up $0.69 during trading hours on Friday, reaching $85.18. The company's stock had a trading volume of 679,157 shares, compared to its average volume of 1,214,846. The company's 50-day moving average is $76.08 and its 200-day moving average is $78.23. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The firm has a market cap of $9.40 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.83 and a current ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The company had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.80% and a return on equity of 12.57%. During the same quarter last year, the company posted $1.72 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth $109,298,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after acquiring an additional 648,983 shares in the last quarter. Nuveen LLC bought a new position in shares of Western Alliance Bancorporation in the first quarter worth about $45,486,000. Janus Henderson Group PLC boosted its stake in shares of Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after purchasing an additional 445,176 shares in the last quarter. Finally, FJ Capital Management LLC boosted its stake in shares of Western Alliance Bancorporation by 824.8% in the 1st quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider's stock valued at $33,998,000 after purchasing an additional 394,660 shares in the last quarter. Institutional investors and hedge funds 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.