Western Alliance Bancorporation (NYSE:WAL) Earns Buy Rating from Analysts at Truist Financial

Equities research analysts at Truist Financial began coverage on shares of Western Alliance Bancorporation (NYSE:WAL - Get Free Report) in a research report issued to clients and investors on Tuesday. The firm set a "buy" rating and a $92.00 price target on the financial services provider's stock. Truist Financial's target price points to a potential upside of 15.62% from the company's previous close.

WAL has been the subject of several other reports. Piper Sandler raised their price target 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. StockNews.com cut shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Monday. Stephens reiterated an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Barclays reduced their target price 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. Finally, DA Davidson reduced their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.38.

Western Alliance Bancorporation Price Performance

WAL traded up $0.37 during trading on Tuesday, reaching $79.57. 246,295 shares of the stock were exchanged, compared to its average volume of 1,216,221. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The business's 50 day moving average price is $71.57 and its two-hundred day moving average price is $82.24. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations 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 in the prior year, the firm earned $1.72 EPS. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its position in Western Alliance Bancorporation by 2.9% during the third quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock valued at $10,674,000 after purchasing an additional 3,421 shares during the last quarter. Jackson Square Capital LLC lifted its position in Western Alliance Bancorporation by 64.4% during the 4th quarter. Jackson Square Capital LLC now owns 33,114 shares of the financial services provider's stock worth $2,766,000 after acquiring an additional 12,972 shares during the period. Delta Capital Management LLC purchased a new position in Western Alliance Bancorporation during the fourth quarter worth approximately $213,000. Diversify Wealth Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $471,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of Western Alliance Bancorporation by 6.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,796 shares of the financial services provider's stock valued at $484,000 after purchasing an additional 331 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

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.

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