Keefe, Bruyette & Woods Issues Pessimistic Forecast for Western Alliance Bancorporation (NYSE:WAL) Stock Price

Western Alliance Bancorporation (NYSE:WAL) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $100.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 19.94% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. Truist Financial upped their price objective on Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Finally, Cowen assumed coverage on Western Alliance Bancorporation in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.20.

Western Alliance Bancorporation Trading Up 2.7%

Western Alliance Bancorporation stock opened at $79.21 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The stock’s 50 day simple moving average is $85.14 and its two-hundred day simple moving average is $78.83. The firm has a market cap of $8.74 billion, a PE ratio of 9.79, a P/E/G ratio of 0.55 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The business had revenue of $718.00 million for the quarter. Analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 6.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 136 shares during the period. Silver Oak Securities Incorporated boosted its holdings in Western Alliance Bancorporation by 1.0% during the 3rd quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider’s stock valued at $1,242,000 after acquiring an additional 138 shares during the period. National Bank of Canada FI boosted its holdings in Western Alliance Bancorporation by 22.7% during the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 141 shares during the period. EJF Capital LLC boosted its holdings in Western Alliance Bancorporation by 2.5% during the 2nd quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 149 shares during the period. Finally, Salzhauer Michael boosted its holdings in Western Alliance Bancorporation by 0.3% during the 3rd quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider’s stock valued at $3,886,000 after acquiring an additional 152 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

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.