Western Alliance Bancorp. Coverage Initiated at Credit Suisse (WAL)
Stock analysts at Credit Suisse initiated coverage on shares of Western Alliance Bancorp. (NYSE:WAL) in a report issued on Friday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $22.00 price target on the stock. Credit Suisse’s price objective points to a potential upside of 21.15% from the company’s current price.
Western Alliance Bancorp. (NYSE:WAL) traded up 3.08% during mid-day trading on Friday, hitting $18.72. The stock had a trading volume of 181,096 shares. Western Alliance Bancorp. has a 52-week low of $9.28 and a 52-week high of $18.75. The stock has a 50-day moving average of $17.4 and a 200-day moving average of $15.73. The company has a market cap of $1.605 billion and a P/E ratio of 15.36.
Western Alliance Bancorp. (NYSE:WAL) last announced its earnings results on Thursday, July 18th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.03. During the same quarter in the prior year, the company posted $0.15 earnings per share.
A number of other analysts have also recently weighed in on WAL. Analysts at Zacks downgraded shares of Western Alliance Bancorp. (NYSE:WAL) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, September 20th. They now have a $19.80 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Western Alliance Bancorp. (NYSE:WAL) from $16.00 to $20.00 in a research note to investors on Tuesday, July 23rd. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $18.54.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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