TD Cowen Issues Pessimistic Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price target cut by research analysts at TD Cowen from $109.00 to $108.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 20.36% from the company’s previous close.

A number of other analysts have also recently weighed in on WAL. Industrial Alliance Securities set a $108.00 price objective on Western Alliance Bancorporation in a research report on Wednesday. Wall Street Zen raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Barclays lifted their price objective on shares of Western Alliance Bancorporation from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. JPMorgan Chase & Co. upped their price objective on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.87.

Western Alliance Bancorporation Trading Up 2.1%

Shares of Western Alliance Bancorporation stock opened at $89.73 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.85. The company has a market capitalization of $9.87 billion, a P/E ratio of 11.09, a PEG ratio of 0.50 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $94.40. The company’s fifty day moving average is $82.77 and its two-hundred day moving average is $82.96.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The business had revenue of $718.00 million during the quarter. Analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Dale Gibbons bought 4,000 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was bought at an average cost of $77.00 per share, with a total value of $308,000.00. Following the completion of the acquisition, the chief financial officer owned 300,358 shares in the company, valued at approximately $23,127,566. This represents a 1.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in Western Alliance Bancorporation by 71.2% during the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 3,249 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Western Alliance Bancorporation by 513.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Western Alliance Bancorporation by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock worth $8,596,000 after buying an additional 21,642 shares in the last quarter. United Services Automobile Association acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $527,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Western Alliance Bancorporation by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after acquiring an additional 35,276 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.