Truist Financial Trims Western Alliance Bancorporation (NYSE:WAL) Target Price to $95.00

Western Alliance Bancorporation (NYSE:WAL) had its price target lowered by equities researchers at Truist Financial from $100.00 to $95.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 17.52% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on WAL. Bank of America upped their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Stephens restated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday. Piper Sandler set a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday. Finally, Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average price target of $91.80.

Western Alliance Bancorporation Trading Down 5.5 %

Shares of NYSE:WAL traded down $4.69 during midday trading on Monday, hitting $80.84. 754,892 shares of the stock traded hands, compared to its average volume of 1,310,320. The business’s 50 day moving average is $82.58 and its two-hundred day moving average is $70.65. The stock has a market capitalization of $8.90 billion, a PE ratio of 12.48, a P/E/G ratio of 1.30 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $94.28.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.42%. The firm had revenue of $771.80 million during the quarter, compared to analysts’ expectations of $737.97 million. During the same period last year, the company posted $1.96 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts forecast that Western Alliance Bancorporation will post 7.39 earnings per share for the current year.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction that occurred 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 owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,149 shares of company stock valued at $1,539,681. 2.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares in the last quarter. Oak Thistle LLC purchased a new stake in Western Alliance Bancorporation in the first quarter valued at about $201,000. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the first quarter worth about $27,000. Principal Financial Group Inc. grew its stake in shares of Western Alliance Bancorporation by 32.7% during the first quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 2,220 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Western Alliance Bancorporation by 1,649.6% in the 1st quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock valued at $3,735,000 after purchasing an additional 54,865 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.