RBC Capital Increases Western Alliance Bancorporation Price Target to $29.00 (WAL)
Analysts at RBC Capital increased their price target on shares of Western Alliance Bancorporation (NYSE:WAL) from $28.00 to $29.00 in a research report issued to clients and investors on Monday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would suggest a potential upside of 21.04% from the company’s current price.
Shares of Western Alliance Bancorporation (NYSE:WAL) traded down 0.54% on Monday, hitting $23.83. 345,258 shares of the company’s stock traded hands. Western Alliance Bancorporation has a 1-year low of $16.16 and a 1-year high of $25.75. The stock’s 50-day moving average is $24.11 and its 200-day moving average is $23.39. The company has a market cap of $2.061 billion and a price-to-earnings ratio of 16.66.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. During the same quarter in the previous year, the company posted $0.30 earnings per share. Analysts expect that Western Alliance Bancorporation will post $1.52 EPS for the current fiscal year.
WAL has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Western Alliance Bancorporation from $2.00 to $27.00 in a research note on Monday. They now have a “market perform” rating on the stock. Separately, analysts at Zacks downgraded shares of Western Alliance Bancorporation from an “outperform” rating to a “neutral” rating in a research note on Monday, June 30th. They now have a $28.20 price target on the stock. Finally, 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. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $27.02.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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