UBS Group Initiates Coverage on Western Alliance Bancorporation (NYSE:WAL)

Equities researchers at UBS Group started coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Tuesday. The firm set a “buy” rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Wedbush raised their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Stephens reaffirmed an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.40.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded down $1.96 during midday trading on Tuesday, hitting $89.13. The stock had a trading volume of 138,488 shares, compared to its average volume of 1,255,994. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a market capitalization of $9.81 billion, a PE ratio of 13.75, a P/E/G ratio of 1.41 and a beta of 1.45. The firm’s fifty day moving average is $89.23 and its two-hundred day moving average is $78.95.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. On average, research analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Institutional Trading of Western Alliance Bancorporation

A number of institutional investors have recently modified their holdings of WAL. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter valued at about $33,000. UMB Bank n.a. raised its stake in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the last quarter. Blue Trust Inc. boosted its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the second quarter worth about $54,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

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.