Western Alliance Bancorp. Stock Rating Upgraded by Zacks (WAL)
Western Alliance Bancorp. (NYSE:WAL) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Analyst Ratings News reports. The firm currently has a $22.30 target price on the stock. Zacks‘ price objective suggests a potential upside of 6.85% from the stock’s previous close.
Western Alliance Bancorp. (NYSE:WAL) traded up 4.26% during mid-day trading on Monday, hitting $21.76. The stock had a trading volume of 759,155 shares. Western Alliance Bancorp. has a 1-year low of $9.28 and a 1-year high of $21.53. The stock’s 50-day moving average is $18.4 and its 200-day moving average is $16.36. The company has a market cap of $1.865 billion and a price-to-earnings ratio of 15.81.
Western Alliance Bancorp. (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.32 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.32. During the same quarter in the prior year, the company posted $0.20 earnings per share.
A number of other firms have also recently commented on WAL. Analysts at DA Davidson reiterated a “neutral” rating on shares of Western Alliance Bancorp. in a research note to investors on Monday. They now have a $23.00 price target on the stock, up previously from $19.00. Separately, analysts at Ned Davis Research initiated coverage on shares of Western Alliance Bancorp. in a research note to investors on Monday, October 7th. They set a “neutral” rating on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Western Alliance Bancorp. in a research note to investors on Friday, September 27th. They set an “outperform” rating and a $22.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Western Alliance Bancorp. currently has a consensus rating of “Buy” and a consensus target price of $19.31.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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