Western Alliance Bancorporation (WAL) Stock Rating Reaffirmed by DA Davidson

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “buy” rating reissued by analysts at DA Davidson in a research report issued on Friday.

WAL has been the topic of several other reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $64.50 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. Barclays increased their price objective on Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Stephens assumed coverage on Western Alliance Bancorporation in a report on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 price objective on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $68.00 price objective on shares of Western Alliance Bancorporation in a report on Friday. Finally, Zacks Investment Research raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus target price of $64.45.

Western Alliance Bancorporation (NYSE:WAL) opened at $59.41 on Friday. Western Alliance Bancorporation has a 1 year low of $44.64 and a 1 year high of $60.68. The stock has a market capitalization of $6,229.19, a PE ratio of 19.16, a P/E/G ratio of 1.33 and a beta of 1.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.82% and a net margin of 36.56%. The company had revenue of $224.72 million for the quarter, compared to analyst estimates of $225.19 million. During the same period in the prior year, the company posted $0.70 EPS. equities analysts predict that Western Alliance Bancorporation will post 3.91 earnings per share for the current fiscal year.

In other news, Director Marianne Boyd Johnson sold 4,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $54.42, for a total value of $217,680.00. Following the transaction, the director now directly owns 3,295 shares of the company’s stock, valued at $179,313.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $56.36, for a total value of $169,080.00. Following the completion of the transaction, the executive vice president now directly owns 20,200 shares in the company, valued at $1,138,472. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. APG Asset Management N.V. purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth about $4,569,000. Cerebellum GP LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth about $124,000. Mountain Pacific Investment Advisers Inc. ID boosted its stake in shares of Western Alliance Bancorporation by 2.0% in the fourth quarter. Mountain Pacific Investment Advisers Inc. ID now owns 335,060 shares of the financial services provider’s stock worth $18,971,000 after buying an additional 6,571 shares during the last quarter. Cim LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth about $421,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Western Alliance Bancorporation by 0.3% in the fourth quarter. GW&K Investment Management LLC now owns 320,452 shares of the financial services provider’s stock worth $18,144,000 after buying an additional 958 shares during the last quarter. Hedge funds and other institutional investors own 81.63% 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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