Western Alliance Bancorporation (WAL) PT Set at $62.00 by Barclays PLC

Western Alliance Bancorporation (NYSE:WAL) has been assigned a $62.00 price target by research analysts at Barclays PLC in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Barclays PLC’s target price suggests a potential upside of 16.91% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. SunTrust Banks, Inc. assumed coverage on shares of Western Alliance Bancorporation in a report on Friday, August 18th. They issued a “buy” rating and a $59.00 price target for the company. BidaskClub raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Saturday, September 9th. Royal Bank Of Canada reissued a “buy” rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Western Alliance Bancorporation currently has a consensus rating of “Buy” and an average price target of $60.00.

Western Alliance Bancorporation (NYSE WAL) opened at 53.03 on Wednesday. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 19.15 and a beta of 1.75. The company’s 50 day moving average is $49.85 and its 200-day moving average is $48.64. Western Alliance Bancorporation has a 12 month low of $35.56 and a 12 month high of $54.29.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The company had revenue of $203.19 million during the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, analysts expect that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.

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In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 65,448 shares of Western Alliance Bancorporation stock in a transaction on Monday, July 24th. The shares were sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the sale, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $2,721,060. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.95% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Western Alliance Bancorporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,445,077 shares of the financial services provider’s stock worth $366,298,000 after purchasing an additional 195,031 shares during the last quarter. BlackRock Inc. boosted its stake in Western Alliance Bancorporation by 7,273.7% during the 1st quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock worth $212,988,000 after purchasing an additional 4,279,862 shares during the last quarter. State Street Corp boosted its stake in Western Alliance Bancorporation by 8.8% during the 2nd quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock worth $178,321,000 after purchasing an additional 293,800 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Western Alliance Bancorporation by 38.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock worth $121,944,000 after purchasing an additional 686,665 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Western Alliance Bancorporation by 8.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,273,221 shares of the financial services provider’s stock worth $111,842,000 after purchasing an additional 169,008 shares during the last quarter. 81.23% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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