Western Alliance Bancorporation (NYSE:WAL) Stock Price Expected to Rise, Truist Financial Analyst Says

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target hoisted by investment analysts at Truist Financial from $92.00 to $96.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Truist Financial's target price suggests a potential upside of 13.77% from the stock's current price.

Other analysts have also recently issued research reports about the company. Citigroup raised their target price on Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price target on Western Alliance Bancorporation from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, DA Davidson cut their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Western Alliance Bancorporation Stock Down 0.9%

Shares of Western Alliance Bancorporation stock traded down $0.73 during midday trading on Friday, hitting $84.38. The company's stock had a trading volume of 611,506 shares, compared to its average volume of 1,215,839. The firm has a market capitalization of $9.32 billion, a P/E ratio of 11.57, a PEG ratio of 0.64 and a beta of 1.29. The stock has a 50-day simple moving average of $76.08 and a 200-day simple moving average of $78.32. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

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

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently modified their holdings of the company. HWG Holdings LP acquired a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $26,000. Tsfg LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $33,000. Atala Financial Inc bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $44,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $58,000. 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.