Barclays Cuts Western Alliance Bancorporation (NYSE:WAL) Price Target to $97.00

Western Alliance Bancorporation (NYSE:WAL) had its price target lowered by research analysts at Barclays from $107.00 to $97.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 60.25% from the company’s previous close.

Other analysts have also issued research reports about the company. Stephens reaffirmed an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $97.40.

Western Alliance Bancorporation Trading Down 2.6 %

Shares of WAL stock traded down $1.63 during trading hours on Tuesday, reaching $60.53. 983,247 shares of the stock traded hands, compared to its average volume of 1,197,575. The business has a fifty day moving average price of $81.79 and a 200 day moving average price of $85.45. The firm has a market capitalization of $6.69 billion, a PE ratio of 8.50, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider’s stock valued at $498,612,000 after buying an additional 154,575 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Western Alliance Bancorporation by 5.1% during the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider’s stock valued at $479,207,000 after buying an additional 278,041 shares in the last quarter. State Street Corp grew its holdings in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Western Alliance Bancorporation by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider’s stock valued at $298,887,000 after buying an additional 22,942 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider’s stock worth $195,616,000 after purchasing an additional 445,176 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.