Jefferies Financial Group Raises Western Alliance Bancorporation (NYSE:WAL) Price Target to $77.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective boosted by research analysts at Jefferies Financial Group from $70.00 to $77.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 20.31% from the company’s previous close.

Several other research analysts also recently commented on the company. Truist Financial reduced their price objective on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Hovde Group began coverage on Western Alliance Bancorporation in a report on Monday, April 22nd. They issued an “outperform” rating and a $75.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Keefe, Bruyette & Woods reduced their price target on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Royal Bank of Canada dropped their price objective on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.21.

Western Alliance Bancorporation Trading Down 0.2 %

Shares of NYSE:WAL traded down $0.13 on Wednesday, hitting $64.00. 236,563 shares of the company’s stock were exchanged, compared to its average volume of 1,207,047. The business’s 50 day simple moving average is $61.26 and its two-hundred day simple moving average is $61.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. Western Alliance Bancorporation has a 12 month low of $35.67 and a 12 month high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same quarter last year, the business posted $2.30 EPS. Analysts anticipate that Western Alliance Bancorporation will post 7.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the sale, the chief accounting officer now owns 5,636 shares in the company, valued at approximately $361,831.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at approximately $27,000. GAMMA Investing LLC raised its position in shares of Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the period. Rakuten Securities Inc. purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth about $65,000. Parkside Financial Bank & Trust grew its position in shares of Western Alliance Bancorporation by 49.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,402 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 462 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $93,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.