Western Alliance Bancorporation (NYSE:WAL) Earns Neutral Rating from UBS Group

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “neutral” rating reissued by UBS Group in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $75.00 target price on the financial services provider’s stock, down from their prior target price of $106.00. UBS Group’s target price points to a potential downside of 0.14% from the company’s current price.

WAL has been the topic of several other research reports. Wells Fargo & Company raised Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $83.00 to $79.00 in a research report on Monday, March 9th. TD Cowen downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 target price on the stock. in a research report on Monday, March 9th. National Alliance Securities reissued a “buy” rating on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. Keefe, Bruyette & Woods raised their target price on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings lowered shares of Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $93.80.

Western Alliance Bancorporation Stock Up 4.4%

Shares of NYSE:WAL opened at $75.11 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Western Alliance Bancorporation has a 12 month low of $57.15 and a 12 month high of $97.23. The company has a 50-day moving average price of $80.43 and a 200 day moving average price of $82.29. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 0.63 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The firm had revenue of $890.80 million during the quarter, compared to the consensus estimate of $912.69 million. During the same quarter last year, the firm earned $1.95 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC raised its position in Western Alliance Bancorporation by 73.2% during the 4th quarter. Hsbc Holdings PLC now owns 6,580 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 2,781 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Western Alliance Bancorporation by 8.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 260,229 shares of the financial services provider’s stock worth $21,878,000 after acquiring an additional 19,581 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Western Alliance Bancorporation by 134.9% during the 4th quarter. Corient Private Wealth LLC now owns 39,056 shares of the financial services provider’s stock worth $3,283,000 after acquiring an additional 22,431 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Western Alliance Bancorporation during the 4th quarter worth about $63,000. Finally, Virtu Financial LLC bought a new position in Western Alliance Bancorporation during the 4th quarter worth about $456,000. 79.15% of the stock is owned by 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.