Western Alliance Bancorp. Downgraded to “Neutral” at Sterne Agee (WAL)
Western Alliance Bancorp. (NYSE:WAL) was downgraded by research analysts at Sterne Agee from a “buy” rating to a “neutral” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on WAL. Analysts at Jefferies Group raised their price target on shares of Western Alliance Bancorp. from $22.00 to $24.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Western Alliance Bancorp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $22.30 price target on the stock. Finally, 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. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.29.
Western Alliance Bancorp. (NYSE:WAL) opened at 21.89 on Tuesday. Western Alliance Bancorp. has a 52 week low of $9.28 and a 52 week high of $21.89. The stock’s 50-day moving average is $18.64 and its 200-day moving average is $16.4. The company has a market cap of $1.876 billion and a P/E ratio of 16.58.
Western Alliance Bancorp. (NYSE:WAL) last released its earnings data 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.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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