Western Alliance Bancorporation (WAL) Given Consensus Recommendation of “Buy” by Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned a consensus recommendation of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $66.85.

Several equities analysts have issued reports on the stock. Barclays reaffirmed a “buy” rating and issued a $70.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 30th. SunTrust Banks reaffirmed a “buy” rating and issued a $70.00 price target on shares of Western Alliance Bancorporation in a report on Monday, January 29th. Sandler O’Neill reaffirmed a “buy” rating and issued a $69.00 price target on shares of Western Alliance Bancorporation in a report on Monday, January 29th. Wells Fargo & Co raised shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Monday, January 29th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, January 26th.

Western Alliance Bancorporation (NYSE:WAL) opened at $58.10 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. Western Alliance Bancorporation has a 1-year low of $44.64 and a 1-year high of $60.71. The stock has a market cap of $6,107.70, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.63.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.82%. The business had revenue of $224.72 million for the quarter, compared to analyst estimates of $225.19 million. During the same period in the previous year, the company earned $0.70 earnings per share. sell-side analysts anticipate that Western Alliance Bancorporation will post 4.01 EPS for the current fiscal year.

In other news, EVP Robert Reoch Mcauslan sold 3,000 shares of Western Alliance Bancorporation stock in a transaction on Friday, December 15th. The shares were sold at an average price of $56.36, for a total transaction of $169,080.00. Following the completion of the sale, the executive vice president now directly owns 20,200 shares in the company, valued at $1,138,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marianne Boyd Johnson sold 4,000 shares of Western Alliance Bancorporation stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total transaction of $217,680.00. Following the sale, the director now owns 3,295 shares of the company’s stock, valued at $179,313.90. The disclosure for this sale can be found here. Insiders have sold 9,942 shares of company stock valued at $560,338 over the last quarter. Insiders own 7.95% of the company’s stock.

Several large investors have recently bought and sold shares of WAL. Maltese Capital Management LLC lifted its position in Western Alliance Bancorporation by 207.1% during 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 purchasing an additional 145,000 shares during the period. Aurora Investment Counsel acquired a new position in Western Alliance Bancorporation during the fourth quarter valued at $2,208,000. Chicago Equity Partners LLC acquired a new position in Western Alliance Bancorporation during the third quarter valued at $2,182,000. Cipher Capital LP lifted its position in Western Alliance Bancorporation by 17.3% during the third quarter. Cipher Capital LP now owns 154,794 shares of the financial services provider’s stock valued at $8,216,000 after purchasing an additional 22,779 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Western Alliance Bancorporation by 9.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 437,441 shares of the financial services provider’s stock valued at $23,220,000 after purchasing an additional 36,723 shares during the period. 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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