Western Alliance Bancorporation (NYSE:WAL) Upgraded to Equal Weight at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Western Alliance Bancorporation (WAL) from "underweight" to "equal weight" and set a $79 price target (down from $83), implying roughly a 6.8% upside from the prior close.
• Most other analysts are more bullish—13 have Buy ratings and the consensus target is $103, with several firms raising targets into the $101–$107 range.
• WAL beat quarterly EPS estimates ($2.59 vs. $2.40) and revenue rose 17% year‑over‑year to $890.8M (slightly below estimates); the stock opened at $73.94 (down ~8.4%), with a market cap of $8.12B and a PE of 8.47.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a research note issued on Monday,Benzinga reports. The firm currently has a $79.00 price objective on the financial services provider's stock, down from their prior price objective of $83.00. Wells Fargo & Company's price objective indicates a potential upside of 6.84% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group restated an "overweight" rating and set a $105.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. DA Davidson boosted their price target on shares of Western Alliance Bancorporation from $104.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a report on Wednesday, January 28th. Finally, Citigroup increased their target price on Western Alliance Bancorporation from $104.00 to $107.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $103.00.

Western Alliance Bancorporation Stock Down 8.4%

WAL opened at $73.94 on Monday. The business has a 50 day moving average price of $88.58 and a two-hundred day moving average price of $85.29. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $97.23. The company has a market cap of $8.12 billion, a PE ratio of 8.47, a P/E/G ratio of 0.63 and a beta of 1.34. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $912.69 million. During the same quarter in the previous year, the company posted $1.95 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Hedge funds have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in Western Alliance Bancorporation during the third quarter worth $26,000. Quent Capital LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $27,000. Root Financial Partners LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter valued at about $27,000. Finally, Clearstead Advisors LLC increased its holdings in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 243 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

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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