Western Alliance Bancorporation (NYSE:WAL) Price Target Cut to $93.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on Western Alliance to $93 from $101 while keeping an "outperform" rating, implying roughly a 20.8% upside from the stock's recent price.
• The analyst landscape shows several recent target cuts (e.g., UBS to $75, Piper to $94) but a consensus view of "Moderate Buy" — with 10 Buy and 5 Hold ratings and an average target of about $93.27.
• Shares traded around $77 (up ~2.7%); the bank reported quarterly EPS of $2.59 (beating estimates) and revenue up 17% year‑over‑year, while the stock sports a market cap of ~$8.46B and a PE of ~8.8.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $101.00 to $93.00 in a research 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 objective indicates a potential upside of 20.77% from the company's current price.

Several other equities analysts have also weighed in on WAL. UBS Group restated a "neutral" rating and set a $75.00 target price (down from $106.00) on shares of Western Alliance Bancorporation in a report on Tuesday. Truist Financial set a $98.00 target price on Western Alliance Bancorporation in a report on Friday, January 9th. iA Financial set a $101.00 target price on Western Alliance Bancorporation in a report on Wednesday, January 28th. Piper Sandler cut their target price on Western Alliance Bancorporation from $108.00 to $94.00 and set an "overweight" rating on the stock in a report on Thursday, April 2nd. Finally, National Alliance Securities restated a "buy" rating on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.27.

Western Alliance Bancorporation Stock Up 2.7%

Shares of NYSE:WAL traded up $2.00 during midday trading on Thursday, hitting $77.00. 559,581 shares of the stock were exchanged, compared to its average volume of 1,365,969. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $60.01 and a 52-week high of $97.23. The business's fifty day simple moving average is $80.43 and its two-hundred day simple moving average is $82.29. The company has a market capitalization of $8.46 billion, a PE ratio of 8.83, a P/E/G ratio of 0.63 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.33% and a net margin of 18.04%.The business had revenue of $890.80 million during the quarter, compared to analyst estimates of $912.69 million. During the same period last year, the company earned $1.95 earnings per share. Western Alliance Bancorporation's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the business. Halbert Hargrove Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $26,000. Quent Capital LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $27,000. Root Financial Partners LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $27,000. Finally, Clearstead Advisors LLC increased its stake in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock worth $35,000 after purchasing an additional 243 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

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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