Western Alliance Bancorp. Rating Lowered to Neutral at Zacks (WAL)
Western Alliance Bancorp. (NYSE:WAL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Wednesday, Analyst Ratings Network.com reports. They currently have a $25.70 price target on the stock. Zacks‘ price objective points to a potential upside of 7.71% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee downgraded shares of Western Alliance Bancorp. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, October 22nd. They now have a $23.00 price target on the stock. They noted that the move was a valuation call. Separately, 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, October 21st. They now have a “buy” rating 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, October 21st. They now have a $23.00 price target on the stock, up previously from $19.00. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Western Alliance Bancorp. currently has a consensus rating of “Hold” and an average target price of $20.97.
Shares of Western Alliance Bancorp. (NYSE:WAL) traded down 0.25% during mid-day trading on Wednesday, hitting $23.86. The stock had a trading volume of 251,489 shares. Western Alliance Bancorp. has a 52 week low of $10.77 and a 52 week high of $24.74. The stock has a 50-day moving average of $22.81 and a 200-day moving average of $19.29. The company has a market cap of $2.048 billion and a price-to-earnings ratio of 18.12.
Western Alliance Bancorp. (NYSE:WAL) last announced its earnings results on Thursday, October 17th. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ 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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