Wells Fargo & Company Issues Pessimistic Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price objective reduced by research analysts at Wells Fargo & Company from $102.00 to $95.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.28% from the company’s current price.

Several other equities analysts have also commented on WAL. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $101.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Stephens reissued an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Finally, Barclays upped their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.31.

Western Alliance Bancorporation Trading Down 2.4 %

WAL stock opened at $81.70 on Monday. The company has a market capitalization of $8.99 billion, a PE ratio of 12.61, a P/E/G ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The firm’s 50-day moving average is $88.65 and its 200 day moving average is $81.70.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation in the third quarter worth about $33,000. UMB Bank n.a. raised its stake in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd increased its holdings in Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after buying an additional 397 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.