Western Alliance Bancorporation (NYSE:WAL)‘s stock had its “buy” rating restated by Zacks Investment Research in a research note issued on Saturday. They presently have a $64.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.63% from the stock’s previous close.

According to Zacks, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions. “

Other analysts have also issued research reports about the company. DA Davidson reiterated a “buy” rating and issued a $64.00 price target on shares of Western Alliance Bancorporation in a report on Monday, October 23rd. Barclays upped their target price on Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Jefferies Group restated a “buy” rating and set a $65.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. Royal Bank of Canada restated a “buy” rating and set a $58.00 target price on shares of Western Alliance Bancorporation in a report on Friday, September 8th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $64.50 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Western Alliance Bancorporation presently has an average rating of “Buy” and an average target price of $63.06.

Shares of Western Alliance Bancorporation (NYSE WAL) opened at $57.85 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $6,100.00, a P/E ratio of 19.81, a P/E/G ratio of 1.39 and a beta of 1.76. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $60.25.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. Western Alliance Bancorporation’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. research analysts expect that Western Alliance Bancorporation will post 3.07 EPS for the current fiscal year.

In other news, EVP Robert Reoch Mcauslan sold 3,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $56.36, for a total transaction of $169,080.00. Following the completion of the sale, the executive vice president now owns 20,200 shares in the company, valued at approximately $1,138,472. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William S. Boyd sold 10,000 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $55.55, for a total value of $555,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,000 shares of company stock valued at $9,780,670. 7.95% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of WAL. Westwood Holdings Group Inc. lifted its holdings in shares of Western Alliance Bancorporation by 38.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock valued at $121,944,000 after purchasing an additional 686,665 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Western Alliance Bancorporation by 1,003.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 572,292 shares of the financial services provider’s stock valued at $28,157,000 after purchasing an additional 520,412 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Western Alliance Bancorporation by 78.3% during 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 purchasing an additional 489,157 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Western Alliance Bancorporation by 100.8% during the 2nd quarter. Fiera Capital Corp now owns 768,693 shares of the financial services provider’s stock valued at $37,820,000 after purchasing an additional 385,877 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Western Alliance Bancorporation by 8.8% during the 2nd quarter. State Street Corp now owns 3,624,387 shares of the financial services provider’s stock valued at $178,321,000 after purchasing an additional 293,800 shares during the last quarter. Hedge funds and other institutional investors own 81.59% 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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