Western Alliance Bancorporation Downgraded to Neutral at Zacks (WAL)
Western Alliance Bancorporation (NYSE:WAL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Monday. They currently have a $28.20 price objective on the stock. Zacks‘s target price indicates a potential upside of 17.75% from the stock’s previous close.
A number of other analysts have also recently weighed in on WAL. Analysts at FIG Partners upgraded shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating in a research note on Monday, April 28th. They now have a $26.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Wednesday, April 23rd. They now have a $26.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Western Alliance Bancorporation from $26.00 to $27.00 in a research note on Wednesday, April 23rd. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.69.
Western Alliance Bancorporation (NYSE:WAL) traded down 0.96% during mid-day trading on Monday, hitting $23.72. 99,340 shares of the company’s stock traded hands. Western Alliance Bancorporation has a one year low of $15.95 and a one year high of $25.75. The stock’s 50-day moving average is $23.44 and its 200-day moving average is $23.32. The company has a market cap of $2.049 billion and a price-to-earnings ratio of 16.85.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.