Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a research report issued to clients and investors on Tuesday. They presently have a $57.00 price target on the financial services provider’s stock. Jefferies Group LLC’s target price suggests a potential upside of 12.45% from the stock’s previous close.

A number of other brokerages have also weighed in on WAL. Zacks Investment Research lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods set a $58.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, June 26th. BidaskClub upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Barclays PLC restated an “overweight” rating and issued a $59.00 target price (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $57.83.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The firm had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. During the same period last year, the company earned $0.62 EPS.

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In other news, Chairman Robert Gary Sarver sold 65,448 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the transaction, the chairman now owns 54,000 shares in the company, valued at approximately $2,721,060. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.95% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Winfield Associates Inc. raised its stake in Western Alliance Bancorporation by 0.6% during the second quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares during the last quarter. Alps Advisors Inc. raised its stake in Western Alliance Bancorporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,257 shares of the financial services provider’s stock valued at $455,000 after buying an additional 24 shares during the last quarter. ProShare Advisors LLC raised its stake in Western Alliance Bancorporation by 0.3% during the second quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock valued at $813,000 after buying an additional 48 shares during the last quarter. First Interstate Bank raised its stake in Western Alliance Bancorporation by 2.5% during the second quarter. First Interstate Bank now owns 6,065 shares of the financial services provider’s stock valued at $298,000 after buying an additional 150 shares during the last quarter. Finally, Renaissance Group LLC raised its stake in Western Alliance Bancorporation by 2.0% during the second quarter. Renaissance Group LLC now owns 7,688 shares of the financial services provider’s stock valued at $378,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

Western Alliance Bancorporation Company Profile

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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