Western Alliance Bancorporation (NYSE:WAL) had its target price upped by stock analysts at Barclays from $65.00 to $69.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays’ price target points to a potential upside of 21.03% from the company’s current price.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, September 5th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a report on Friday, September 8th. Jefferies Group reaffirmed a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. DA Davidson reaffirmed a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a report on Monday, October 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $64.50 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Western Alliance Bancorporation presently has a consensus rating of “Buy” and a consensus target price of $62.56.
Shares of Western Alliance Bancorporation (WAL) traded up $0.39 during midday trading on Tuesday, hitting $57.01. The stock had a trading volume of 163,853 shares, compared to its average volume of 530,698. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $6,010.00, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.63 and a beta of 1.76. Western Alliance Bancorporation has a fifty-two week low of $44.64 and a fifty-two week high of $60.25.
In other Western Alliance Bancorporation news, EVP Robert Reoch Mcauslan sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $56.36, for a total value of $169,080.00. Following the completion of the sale, the executive vice president now owns 20,200 shares in the company, valued at approximately $1,138,472. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marianne Boyd Johnson sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total value of $217,680.00. Following the completion of the sale, the director now owns 3,295 shares of the company’s stock, valued at approximately $179,313.90. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock worth $9,780,670 in the last ninety days. Insiders own 7.95% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Western Alliance Bancorporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after acquiring an additional 195,031 shares during the period. Wellington Management Group LLP lifted its position in shares of Western Alliance Bancorporation by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 4,813,169 shares of the financial services provider’s stock worth $236,279,000 after buying an additional 429,488 shares during the period. BlackRock Inc. lifted its position in shares of Western Alliance Bancorporation by 7,273.7% during the 1st quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after buying an additional 4,279,862 shares during the period. Victory Capital Management Inc. lifted its position in shares of Western Alliance Bancorporation by 54.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,158,272 shares of the financial services provider’s stock worth $156,102,000 after buying an additional 1,465,073 shares during the period. Finally, State Street Corp lifted its position in shares of Western Alliance Bancorporation by 8.8% during the 2nd quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock worth $178,321,000 after buying an additional 293,800 shares during the period. Institutional investors own 81.59% 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.
