Western Alliance Bancorporation (NYSE:WAL) Upgraded at Wall Street Zen

Key Points

• Western Alliance Bancorporation has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a positive shift in analyst sentiment.
• Royal Bank of Canada increased its price target for the company from $93 to $100, indicating strong confidence in the stock's performance.
• The stock has an average rating of "Moderate Buy" with a target price of $101.20, backed by thirteen analysts rating it as a buy.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on WAL. Royal Bank Of Canada lifted their price target on Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Piper Sandler boosted their target price on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Weiss Ratings downgraded Western Alliance Bancorporation from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Truist Financial boosted their target price on Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Industrial Alliance Securities set a $95.00 target price on Western Alliance Bancorporation in a research note on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $101.20.

Western Alliance Bancorporation Price Performance

WAL stock opened at $79.21 on Friday. The company has a market capitalization of $8.74 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.83. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The business has a 50-day simple moving average of $85.14 and a two-hundred day simple moving average of $78.83.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%. Research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

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

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