Truist Financial Lowers Western Alliance Bancorporation (NYSE:WAL) Price Target to $93.00

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) had its price objective reduced by stock analysts at Truist Financial from $96.00 to $93.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Truist Financial's price objective would indicate a potential upside of 11.67% from the stock's current price.

Several other research analysts have also weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Wall Street Zen upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. raised their price target on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Citigroup raised their target price on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Trading Down 0.3%

NYSE:WAL traded down $0.26 on Monday, reaching $83.28. The stock had a trading volume of 442,425 shares, compared to its average volume of 1,129,840. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.56 and a beta of 1.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.81. The firm's fifty day moving average is $77.22 and its two-hundred day moving average is $78.24. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $836.21 million for the quarter, compared to the consensus estimate of $838.58 million. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors have recently modified their holdings of the business. HWG Holdings LP bought a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $25,000. Tsfg LLC bought a new position in shares of Western Alliance Bancorporation during the first quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Western Alliance Bancorporation in the 1st quarter worth about $58,000. National Bank of Canada FI grew its position in 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 worth $59,000 after purchasing an additional 141 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Western Alliance Bancorporation by 91.5% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $78,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

About Western Alliance Bancorporation

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.