Western Alliance Bancorporation (NYSE:WAL) Stock Price Expected to Rise, Truist Financial Analyst Says

Western Alliance Bancorporation (NYSE:WAL) had its target price increased by research analysts at Truist Financial from $92.00 to $93.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 17.41% from the company’s previous close.

Other research analysts have also issued reports about the stock. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, September 24th. Industrial Alliance Securities set a $95.00 target price on shares of Western Alliance Bancorporation in a report on Thursday. DA Davidson raised their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a “buy” rating in a report on Monday, July 21st. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Finally, Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Western Alliance Bancorporation Trading Up 2.7%

Shares of WAL opened at $79.21 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a 50 day simple moving average of $85.14 and a two-hundred day simple moving average of $78.83. The firm has a market cap of $8.74 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.55 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The firm had revenue of $718.00 million during the quarter. On average, equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Western Alliance Bancorporation by 5.9% during the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock worth $466,821,000 after purchasing an additional 339,758 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Western Alliance Bancorporation by 0.8% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock worth $276,954,000 after purchasing an additional 26,995 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Western Alliance Bancorporation by 0.9% during the second quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after purchasing an additional 20,704 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Western Alliance Bancorporation by 11.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock worth $190,318,000 after purchasing an additional 223,425 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Western Alliance Bancorporation by 5.4% during the second quarter. Geode Capital Management LLC now owns 2,035,515 shares of the financial services provider’s stock worth $158,755,000 after purchasing an additional 104,182 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.