UBS Group Reiterates "Neutral" Rating for Western Alliance Bancorporation (NYSE:WAL)

Key Points

• UBS reiterated a "neutral" rating on Western Alliance with a $75 price objective, implying about a 2.7% upside from the prior close.
• Analyst consensus is mixed but generally positive — 10 Buys and 5 Holds with an average target of $93.93 (MarketBeat's "Moderate Buy"), and several firms have recently adjusted targets in the $90–$108 range.
• Western Alliance beat EPS for the quarter ($2.59 vs. $2.40), with revenue up 17% year-over-year but slightly below consensus; the stock trades near $73 with a 52‑week range of $57.15–$97.23 and a P/E of 8.36.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at UBS Group in a research note issued on Tuesday, Marketbeat reports. They presently have a $75.00 price objective on the financial services provider's stock. UBS Group's target price indicates a potential upside of 2.71% from the stock's previous close.

Several other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 28th. Barclays dropped their price target on shares of Western Alliance Bancorporation from $105.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 18th. Citigroup decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a "buy" rating for the company in a report on Monday, March 9th. iA Financial set a $101.00 price objective on shares of Western Alliance Bancorporation in a report on Wednesday, January 28th. Finally, Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $108.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $93.93.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $73.02 on Tuesday. Western Alliance Bancorporation has a 52 week low of $57.15 and a 52 week high of $97.23. The company has a market cap of $8.02 billion, a PE ratio of 8.36, a P/E/G ratio of 0.63 and a beta of 1.37. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The company's fifty day simple moving average is $81.06 and its 200-day simple moving average is $82.47.

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

Institutional Trading of Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC bought a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $26,000. Quent Capital LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $27,000. Root Financial Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $27,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock worth $35,000 after purchasing an additional 243 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

About Western Alliance Bancorporation

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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