Western Alliance Bancorporation (NYSE:WAL) has been given an average rating of “Buy” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $63.45.

Several research analysts have recently issued reports on the company. Stephens assumed coverage on Western Alliance Bancorporation in a research note on Wednesday. They issued an “overweight” rating and a $68.00 price objective for the company. Zacks Investment Research reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Western Alliance Bancorporation in a research note on Saturday, January 6th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $54.00) on shares of Western Alliance Bancorporation in a research note on Tuesday, January 9th. Barclays upped their price objective on Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, December 15th.

Western Alliance Bancorporation (WAL) opened at $59.61 on Friday. Western Alliance Bancorporation has a 52 week low of $44.64 and a 52 week high of $60.25. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $6,290.00, a P/E ratio of 20.41, a PEG ratio of 1.33 and a beta of 1.76.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The company had revenue of $211.50 million during the quarter, compared to the consensus estimate of $212.27 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. analysts expect that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

In related news, CEO Robert Gary Sarver sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $55.22, for a total value of $5,522,000.00. Following the sale, the chief executive officer now directly owns 54,000 shares in the company, valued at $2,981,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marianne Boyd Johnson sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were 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 in the company, valued at $179,313.90. The disclosure for this sale can be found here. Insiders sold 176,000 shares of company stock worth $9,780,670 over the last quarter. 7.95% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Maltese Capital Management LLC boosted its holdings in Western Alliance Bancorporation by 207.1% in the third quarter. Maltese Capital Management LLC now owns 215,000 shares of the financial services provider’s stock valued at $11,412,000 after acquiring an additional 145,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after buying an additional 195,031 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $2,182,000. Cipher Capital LP boosted its holdings in shares of Western Alliance Bancorporation by 17.3% during the 3rd quarter. Cipher Capital LP now owns 154,794 shares of the financial services provider’s stock worth $8,216,000 after buying an additional 22,779 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Western Alliance Bancorporation by 9.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 437,441 shares of the financial services provider’s stock worth $23,220,000 after buying an additional 36,723 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

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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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