Western Alliance Bancorporation (NYSE:WAL) Given New $95.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Western Alliance Bancorporation has had its price target lowered from $100.00 to $95.00 by analysts at Keefe, Bruyette & Woods, while still maintaining an "outperform" rating.
• The stock currently shows a potential upside of 21.66% from its recent trading price of $78.09.
• Institutional investors now own 79.15% of Western Alliance Bancorporation's stock, reflecting significant interest from hedge funds and other entities.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target lowered by analysts at Keefe, Bruyette & Woods from $100.00 to $95.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 21.66% from the stock's current price.

Other research analysts also recently issued research reports about the stock. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. Barclays reaffirmed an "overweight" rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "underweight" rating for the company in a research report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $101.20.

Western Alliance Bancorporation Stock Down 0.8%

Shares of NYSE:WAL traded down $0.63 during midday trading on Thursday, reaching $78.09. 518,648 shares of the company were exchanged, compared to its average volume of 1,192,499. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $85.34 and a two-hundred day simple moving average of $78.59. The firm has a market cap of $8.62 billion, a PE ratio of 9.63, a P/E/G ratio of 0.55 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 13.20%. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Trading of Western Alliance Bancorporation

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Western Alliance Bancorporation by 6.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider's stock valued at $181,000 after buying an additional 136 shares in the last quarter. Silver Oak Securities Incorporated raised its position in shares of Western Alliance Bancorporation by 1.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider's stock valued at $1,242,000 after buying an additional 138 shares in the last quarter. National Bank of Canada FI raised its position in shares of Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after buying an additional 141 shares in the last quarter. EJF Capital LLC raised its position in shares of Western Alliance Bancorporation by 2.5% in the 2nd quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider's stock valued at $485,000 after buying an additional 149 shares in the last quarter. Finally, Salzhauer Michael increased its position in Western Alliance Bancorporation by 0.3% during the 3rd quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider's stock worth $3,886,000 after purchasing an additional 152 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.