Several brokerages have updated their recommendations and price targets on shares of Western Alliance Bancorporation (NYSE: WAL) in the last few weeks:

  • 10/12/2017 – Western Alliance Bancorporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 10/12/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $63.00 price target on the stock.
  • 10/11/2017 – Western Alliance Bancorporation was given a new $62.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 9/26/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $57.00 price target on the stock.
  • 9/23/2017 – Western Alliance Bancorporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $56.00 price target on the stock. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 9/22/2017 – Western Alliance Bancorporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 9/12/2017 – Western Alliance Bancorporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $51.00 price target on the stock. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 9/9/2017 – Western Alliance Bancorporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 9/8/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $58.00 price target on the stock.
  • 9/5/2017 – Western Alliance Bancorporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $54.00 price target on the stock. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 9/1/2017 – Western Alliance Bancorporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “
  • 8/29/2017 – Western Alliance Bancorporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 8/19/2017 – Western Alliance Bancorporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/18/2017 – Western Alliance Bancorporation is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $59.00 price target on the stock.

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

In other news, Chairman Robert Gary Sarver sold 100,000 shares of the company’s stock in a transaction 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 owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.95% of the stock is owned by corporate insiders.

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.

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