Western Alliance Bancorporation (NYSE:WAL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Western Alliance Bancorporation (NYSE:WAL) from a sell rating to a hold rating in a research note released on Wednesday morning.

Other equities research analysts also recently issued research reports about the company. DA Davidson lowered their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday. Barclays upped their target price 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. 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 note on Friday, October 18th. Finally, UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.07.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $88.25 on Wednesday. The company has a 50 day moving average of $88.13 and a 200 day moving average of $84.26. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.71 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.88 and a beta of 1.46. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds have recently made changes to their positions in WAL. Fifth Third Bancorp raised its holdings in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the third quarter worth about $33,000. UMB Bank n.a. raised its stake in 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 buying an additional 249 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 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.