Western Alliance Bancorporation (NYSE:WAL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Western Alliance Bancorporation (NYSE:WAL) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $90.00 to $93.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 12.04% from the stock’s previous close.

WAL has been the topic of several other research reports. Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the stock an “overweight” rating in a report on Thursday. Barclays cut their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods boosted their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Stifel Nicolaus set a $95.00 price target on shares of Western Alliance Bancorporation in a research note on Thursday. Finally, UBS Group increased their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.71.

Western Alliance Bancorporation Stock Up 0.0%

NYSE WAL opened at $83.01 on Thursday. The stock’s 50 day moving average is $80.57 and its 200 day moving average is $81.22. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The stock has a market cap of $9.06 billion, a PE ratio of 9.35, a P/E/G ratio of 0.75 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting the consensus estimate of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The business had revenue of $995.70 million during the quarter, compared to the consensus estimate of $980.53 million. During the same period in the prior year, the company posted $2.07 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts predict that Western Alliance Bancorporation will post 9.5 EPS for the current fiscal year.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds and other institutional investors have recently modified their holdings of WAL. Clearstead Advisors LLC lifted its stake in shares of Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Western Alliance Bancorporation in the 4th quarter valued at $38,000. Assetmark Inc. grew its position in Western Alliance Bancorporation by 86.0% in the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 259 shares during the last quarter. Leonteq Securities AG purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth $44,000. Finally, V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth $45,000. 79.15% of the stock is currently 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.