UBS Group Begins Coverage on Western Alliance Bancorporation (NYSE:WAL)

Investment analysts at UBS Group assumed coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a research note issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $115.00 price target on the financial services provider’s stock. UBS Group’s price target would indicate a potential upside of 37.33% from the stock’s previous close.

Several other equities research analysts have also commented on WAL. Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Piper Sandler lowered their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Wedbush raised their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Company lifted their target price on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Western Alliance Bancorporation Trading Down 5.2 %

NYSE:WAL opened at $83.74 on Tuesday. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a fifty day moving average price of $89.27 and a two-hundred day moving average price of $79.16. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.41 and a beta of 1.45.

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

Hedge Funds Weigh In On Western Alliance Bancorporation

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation during the third quarter worth approximately $33,000. UMB Bank n.a. raised its stake in Western Alliance Bancorporation by 136.8% during 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 period. Blue Trust Inc. boosted its holdings in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $54,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

About Western Alliance Bancorporation

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.