Western Alliance Bancorporation (NYSE:WAL) PT Lowered to $70.00 at Jefferies Financial Group

Western Alliance Bancorporation (NYSE:WAL) had its price objective lowered by equities research analysts at Jefferies Financial Group from $80.00 to $70.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 14.89% from the company’s previous close.

Several other research firms also recently commented on WAL. Truist Financial reiterated a “buy” rating and set a $80.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Royal Bank of Canada raised their target price on shares of Western Alliance Bancorporation from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Barclays assumed coverage on shares of Western Alliance Bancorporation in a report on Friday, March 8th. They set an “overweight” rating and a $91.00 target price for the company. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Western Alliance Bancorporation in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.87.

Western Alliance Bancorporation Trading Down 0.6 %

Shares of Western Alliance Bancorporation stock opened at $60.93 on Monday. The firm’s 50 day simple moving average is $60.04 and its two-hundred day simple moving average is $55.93. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 9.32 and a beta of 1.47. Western Alliance Bancorporation has a 12-month low of $11.35 and a 12-month high of $70.23. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.02). Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $705.97 million. During the same quarter in the previous year, the firm posted $2.67 earnings per share. Analysts predict that Western Alliance Bancorporation will post 7.89 EPS for the current year.

Institutional Trading of Western Alliance Bancorporation

A number of large investors have recently bought and sold shares of WAL. Harbour Investments Inc. boosted its stake in Western Alliance Bancorporation by 400.7% during the 1st quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 557 shares during the period. Lazard Asset Management LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $28,000. State of Wyoming boosted its stake in Western Alliance Bancorporation by 54.7% during the 2nd quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the period. GAMMA Investing LLC boosted its stake in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Western Alliance Bancorporation by 118.2% during the 1st quarter. Advisory Services Network LLC now owns 993 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 538 shares during the period. Institutional investors and hedge funds 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.