Equities researchers at UBS assumed coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a research report issued on Wednesday, www.benzinga.com reports. The firm set a “buy” rating and a $70.00 price target on the financial services provider’s stock. UBS’s target price suggests a potential upside of 21.42% from the stock’s current price.

A number of other equities research analysts have also weighed in on WAL. ValuEngine lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Barclays upped their target price on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research restated a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a report on Saturday, January 6th. Wells Fargo restated an “outperform” rating and issued a $62.00 target price (up previously from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. Finally, Stephens started coverage on shares of Western Alliance Bancorporation in a report on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Western Alliance Bancorporation presently has an average rating of “Buy” and an average price target of $66.88.

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WAL stock opened at $57.65 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. Western Alliance Bancorporation has a fifty-two week low of $44.64 and a fifty-two week high of $62.49. The firm has a market cap of $6,364.32, a PE ratio of 18.60, a PEG ratio of 1.16 and a beta of 1.58.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.50%. The company had revenue of $224.72 million for the quarter, compared to analyst estimates of $225.19 million. During the same quarter in the prior year, the business posted $0.70 EPS. sell-side analysts forecast that Western Alliance Bancorporation will post 4.01 EPS for the current fiscal year.

In other Western Alliance Bancorporation news, Chairman Robert Gary Sarver sold 67,057 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $59.95, for a total value of $4,020,067.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Randall S. Theisen sold 2,942 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total transaction of $173,578.00. Following the completion of the sale, the executive vice president now owns 39,321 shares of the company’s stock, valued at approximately $2,319,939. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,787 shares of company stock valued at $5,265,384. Company insiders own 7.95% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Western Alliance Bancorporation by 7.3% in the 4th quarter. BlackRock Inc. now owns 4,544,458 shares of the financial services provider’s stock valued at $257,305,000 after buying an additional 311,107 shares during the last quarter. Victory Capital Management Inc. increased its stake in Western Alliance Bancorporation by 10.6% in the 4th quarter. Victory Capital Management Inc. now owns 3,601,997 shares of the financial services provider’s stock valued at $203,946,000 after buying an additional 344,601 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Western Alliance Bancorporation by 22.5% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,816,826 shares of the financial services provider’s stock valued at $159,490,000 after buying an additional 516,722 shares during the last quarter. Schroder Investment Management Group increased its stake in Western Alliance Bancorporation by 5.9% in the 3rd quarter. Schroder Investment Management Group now owns 2,174,113 shares of the financial services provider’s stock valued at $114,119,000 after buying an additional 120,269 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Western Alliance Bancorporation by 78.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,114,177 shares of the financial services provider’s stock valued at $59,141,000 after buying an additional 489,157 shares during the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.

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About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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