Barclays Has Lowered Expectations for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price target decreased by equities researchers at Barclays from $105.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 33.86% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group restated an “overweight” rating and set a $105.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. DA Davidson dropped their target price on Western Alliance Bancorporation from $105.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Wells Fargo & Company raised Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $83.00 to $79.00 in a research note on Monday, March 9th. Citigroup reduced their price target on Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Finally, UBS Group set a $93.00 price objective on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a report on Tuesday, March 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.73.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $67.24 on Wednesday. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $85.46 and a 200 day simple moving average of $84.17. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. The firm had revenue of $890.80 million for the quarter, compared to analysts’ expectations of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. Research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

A number of hedge funds have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC bought a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $26,000. Quent Capital LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $27,000. Root Financial Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $27,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

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.