Western Alliance Bancorporation (WAL) Given Buy Rating at Piper Jaffray Companies
Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “buy” rating reaffirmed by Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $64.50 price target on the financial services provider’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 15.41% from the company’s previous close.
Several other equities research analysts have also commented on WAL. Keefe, Bruyette & Woods set a $58.00 price target on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, June 26th. BidaskClub lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Barclays PLC reissued an “overweight” rating and issued a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.69.
Western Alliance Bancorporation (NYSE WAL) traded up 1.43% during trading on Tuesday, hitting $55.89. 853,174 shares of the company’s stock were exchanged. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 20.18 and a beta of 1.75. Western Alliance Bancorporation has a 12-month low of $36.30 and a 12-month high of $56.55. The company’s 50-day moving average price is $50.91 and its 200 day moving average price is $48.90.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.71%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Equities analysts forecast that Western Alliance Bancorporation will post $3.06 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/10/24/western-alliance-bancorporation-wal-given-buy-rating-at-piper-jaffray-companies.html.
In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorporation 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 sale, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $2,611,980. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.95% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its stake in Western Alliance Bancorporation by 72.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,060 shares during the last quarter. Winfield Associates Inc. boosted its stake in Western Alliance Bancorporation by 0.6% during the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Western Alliance Bancorporation by 15.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $202,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $207,000. 81.37% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.