Western Alliance Bancorporation (NYSE:WAL) Price Target Raised to $107.00 at Barclays

Western Alliance Bancorporation (NYSE:WAL) had its price objective hoisted by stock analysts at Barclays from $105.00 to $107.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 17.89% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Stephens reissued an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Wells Fargo & Company increased their price target on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Truist Financial decreased their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.73.

Western Alliance Bancorporation Trading Up 0.5 %

Shares of NYSE:WAL traded up $0.41 during mid-day trading on Friday, reaching $90.76. 439,917 shares of the company were exchanged, compared to its average volume of 1,318,043. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1 year low of $43.20 and a 1 year high of $96.45. The firm’s 50-day simple moving average is $84.19 and its 200 day simple moving average is $72.95.

Insiders Place Their Bets

In related news, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Western Alliance Bancorporation

Several hedge funds have recently bought and sold shares of WAL. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $4,736,000. Smead Capital Management Inc. increased its stake in Western Alliance Bancorporation by 3.5% in the third quarter. Smead Capital Management Inc. now owns 1,350,195 shares of the financial services provider’s stock valued at $116,778,000 after purchasing an additional 45,543 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Western Alliance Bancorporation during the third quarter worth about $510,000. Pathstone Holdings LLC boosted its stake in Western Alliance Bancorporation by 13.1% in the 3rd quarter. Pathstone Holdings LLC now owns 21,701 shares of the financial services provider’s stock worth $1,877,000 after buying an additional 2,509 shares during the last quarter. Finally, RiverPark Advisors LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter valued at about $155,000. Hedge funds and other 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.