Western Alliance Bancorporation’s (WAL) Neutral Rating Reaffirmed at UBS Group

Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “neutral” rating reaffirmed by equities researchers at UBS Group in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $75.00 price target on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 2.71% from the stock’s current price.

Several other research firms also recently commented on WAL. Jefferies Financial Group reissued an “overweight” rating and issued a $105.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. DA Davidson decreased their target price on shares of 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. Citigroup decreased their target price on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, January 9th. Finally, iA Financial set a $101.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.93.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $73.02 on Tuesday. The company’s 50 day moving average price is $81.06 and its 200 day moving average price is $82.47. Western Alliance Bancorporation has a 52 week low of $57.15 and a 52 week high of $97.23. The company has a market capitalization of $8.02 billion, a PE ratio of 8.36, a PEG ratio of 0.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.40 by $0.19. The company had revenue of $890.80 million during the quarter, compared to the consensus estimate 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 for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 earnings per share. Research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in Western Alliance Bancorporation by 1.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 113 shares during the last quarter. Ritholtz Wealth Management raised its stake in Western Alliance Bancorporation by 4.6% during the 4th quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 133 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in Western Alliance Bancorporation by 1.0% during the 3rd quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider’s stock valued at $1,242,000 after purchasing an additional 138 shares during the last quarter. EJF Capital LLC raised its stake in Western Alliance Bancorporation by 2.5% during the 2nd quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 149 shares during the last quarter. Finally, Salzhauer Michael raised its stake in Western Alliance Bancorporation by 0.3% during the 3rd quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider’s stock valued at $3,886,000 after purchasing an additional 152 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.