Western Alliance Bancorporation (NYSE:WAL) Receives Average Recommendation of “Buy” from Brokerages

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Western Alliance Bancorporation (NYSE:WAL) has been given an average recommendation of “Buy” by the ten ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $58.83.

A number of research firms have issued reports on WAL. SunTrust Banks reduced their target price on shares of Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Finally, Wedbush reiterated an “outperform” rating on shares of Western Alliance Bancorporation in a report on Tuesday, July 16th.

Several large investors have recently made changes to their positions in the business. Artemis Investment Management LLP increased its position in shares of Western Alliance Bancorporation by 44.0% in the 3rd quarter. Artemis Investment Management LLP now owns 397,037 shares of the financial services provider’s stock valued at $17,840,000 after purchasing an additional 121,299 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Western Alliance Bancorporation by 686.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,815,851 shares of the financial services provider’s stock valued at $81,205,000 after purchasing an additional 1,585,020 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at approximately $241,000. Boston Partners purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at approximately $2,529,000. Finally, Treasurer of the State of North Carolina increased its position in shares of Western Alliance Bancorporation by 8.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 46,669 shares of the financial services provider’s stock valued at $2,087,000 after purchasing an additional 3,810 shares during the last quarter. 83.32% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation stock opened at $44.86 on Monday. The firm has a market cap of $4.47 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. Western Alliance Bancorporation has a 52-week low of $37.39 and a 52-week high of $55.94. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $44.68 and its two-hundred day moving average is $44.67.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. The company had revenue of $267.30 million for the quarter, compared to analyst estimates of $274.37 million. Western Alliance Bancorporation had a net margin of 39.87% and a return on equity of 17.76%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 4.74 earnings per share for the current fiscal year.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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