Western Alliance Bancorporation (NYSE:WAL) Lowered to Hold Rating by TD Cowen

Western Alliance Bancorporation (NYSE:WAL) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Monday,Finviz reports. They currently have a $83.00 target price on the financial services provider’s stock. TD Cowen’s target price points to a potential upside of 12.25% from the company’s current price.

WAL has been the topic of several other reports. Jefferies Financial Group restated an “overweight” rating and set a $105.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday. UBS Group set a $106.00 price target on Western Alliance Bancorporation in a report on Wednesday, February 4th. Citigroup boosted their price target on Western Alliance Bancorporation from $104.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $83.00 to $79.00 in a research note on Monday. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

Western Alliance Bancorporation Price Performance

WAL stock opened at $73.94 on Monday. The stock has a 50-day moving average price of $88.58 and a two-hundred day moving average price of $85.29. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $97.23. The stock has a market cap of $8.12 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 0.63 and a beta of 1.34. 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 (NYSE:WAL) last issued 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. The company had revenue of $890.80 million for the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 earnings per share. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Institutional Trading of Western Alliance Bancorporation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in Western Alliance Bancorporation during the third quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter worth $27,000. Root Financial Partners LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $27,000. Finally, Clearstead Advisors LLC lifted its position 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 valued at $35,000 after acquiring an additional 243 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

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.