Western Alliance Bancorporation (NYSE:WAL) Coverage Initiated at Hovde Group

Stock analysts at Hovde Group started coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Monday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $75.00 price target on the financial services provider’s stock. Hovde Group’s price target would indicate a potential upside of 25.40% from the stock’s current price.

Several other equities analysts also recently commented on WAL. Citigroup upped their price target on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a report on Monday, January 29th. Barclays initiated coverage on shares of Western Alliance Bancorporation in a research report on Friday, March 8th. They issued an “overweight” rating and a $91.00 price target for the company. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. DA Davidson reissued a “buy” rating and set a $85.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. Finally, Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.56.

Western Alliance Bancorporation Trading Up 1.9 %

Shares of Western Alliance Bancorporation stock opened at $59.81 on Monday. The company’s fifty day simple moving average is $59.43 and its 200-day simple moving average is $56.82. The stock has a market capitalization of $6.59 billion, a PE ratio of 8.72 and a beta of 1.47. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same quarter in the previous year, the company earned $2.30 EPS. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 7.87 earnings per share for the current year.

Institutional Trading of Western Alliance Bancorporation

Institutional investors have recently made changes to their positions in the company. Compound Global Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 45.7% in the first quarter. Compound Global Advisors LLC now owns 501,071 shares of the financial services provider’s stock valued at $32,164,000 after acquiring an additional 157,170 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the first quarter valued at $27,000. Oak Thistle LLC acquired a new stake in Western Alliance Bancorporation in the first quarter valued at $201,000. GAMMA Investing LLC raised its stake in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after buying an additional 183 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its stake in Western Alliance Bancorporation by 0.6% in the fourth quarter. Congress Asset Management Co. MA now owns 216,832 shares of the financial services provider’s stock valued at $14,265,000 after buying an additional 1,270 shares in 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.