Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “buy” rating reissued by stock analysts at Royal Bank Of Canada in a report released on Friday. They presently have a $58.00 price objective on the financial services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 27.98% from the company’s previous close.

WAL has been the subject of a number of other research reports. BidaskClub downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday. Jefferies Group LLC reduced their price objective on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, May 22nd. SunTrust Banks, Inc. began coverage on shares of Western Alliance Bancorporation in a research report on Friday, August 18th. They issued a “buy” rating and a $59.00 price objective for the company. Finally, Barclays PLC restated an “overweight” rating and issued a $59.00 price objective (up previously from $58.00) on shares of Western Alliance Bancorporation in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Western Alliance Bancorporation presently has an average rating of “Buy” and an average price target of $57.50.

Western Alliance Bancorporation (NYSE WAL) opened at 45.32 on Friday. The company has a 50-day moving average price of $48.69 and a 200-day moving average price of $48.65. The firm has a market cap of $4.72 billion, a PE ratio of 16.37 and a beta of 1.75. Western Alliance Bancorporation has a 12-month low of $35.56 and a 12-month high of $53.84.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. The firm had revenue of $203.19 million during the quarter, compared to the consensus estimate of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same quarter last year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post $3.04 earnings per share for the current year.

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In other news, Chairman Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the completion of the sale, the chairman now directly owns 54,000 shares in the company, valued at approximately $2,611,980. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.95% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in shares of Western Alliance Bancorporation by 87.5% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,721 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 4,069 shares during the period. Koch Industries Inc. lifted its position in shares of Western Alliance Bancorporation by 4,291.0% during the 2nd quarter. Koch Industries Inc. now owns 272,285 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 266,084 shares during the period. Kalos Management Inc. acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at approximately $536,000. Westwood Holdings Group Inc. lifted its position in shares of Western Alliance Bancorporation by 38.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock valued at $121,944,000 after acquiring an additional 686,665 shares during the period. Finally, Nomura Holdings Inc. lifted its position in shares of Western Alliance Bancorporation by 55.5% during the 2nd quarter. Nomura Holdings Inc. now owns 13,750 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 4,909 shares during the period. Institutional investors own 81.33% of the company’s stock.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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