Western Alliance Bancorporation (NYSE:WAL – Get Free Report) had its price target lowered by analysts at JPMorgan Chase & Co. from $90.00 to $85.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 13.23% from the company’s current price.
Several other equities research analysts also recently commented on WAL. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Stephens set a $95.00 price target on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a research report on Thursday, July 23rd. DA Davidson set a $107.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday. Royal Bank Of Canada dropped their price target on shares of Western Alliance Bancorporation from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Finally, Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.82.
View Our Latest Stock Report on WAL
Western Alliance Bancorporation Trading Down 0.3%
Shares of WAL stock traded down $0.23 during mid-day trading on Wednesday, reaching $75.07. 225,826 shares of the stock traded hands, compared to its average volume of 1,178,063. The stock’s fifty day simple moving average is $77.87 and its two-hundred day simple moving average is $79.15. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.75 and a beta of 1.42. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.02. Western Alliance Bancorporation had a return on equity of 13.48% and a net margin of 17.34%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.91 million. During the same period in the previous year, the business posted $2.28 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.06 EPS for the current fiscal year.
Hedge Funds Weigh In On Western Alliance Bancorporation
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Western Alliance Bancorporation during the second quarter valued at $926,898,000. Dimensional Fund Advisors LP grew its holdings in Western Alliance Bancorporation by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock worth $270,203,000 after acquiring an additional 36,534 shares during the period. Davis Asset Management L.P. acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $274,219,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth about $174,329,000. Finally, Jupiter Topco LLC bought a new position in shares of Western Alliance Bancorporation in the 2nd quarter worth about $101,995,000. Institutional investors own 79.15% of the company’s stock.
More Western Alliance Bancorporation News
Here are the key news stories impacting Western Alliance Bancorporation this week:
- Positive Sentiment: Q3 earnings and revenue exceeded expectations. Western Alliance reported adjusted EPS of $2.45, above the $2.43 consensus, while revenue reached approximately $1.01 billion versus estimates of about $988 million. EPS increased from $2.28 a year earlier, and revenue rose 8.1% year over year. Western Alliance beats Q3 estimates on higher revenue
- Positive Sentiment: Core banking trends improved. Net interest income increased to $807.6 million, net interest margin expanded to 3.57%, and loans held for investment grew to $61.5 billion. Net income rose 6.4% year over year to $277.2 million. Western Alliance Q3 Net Income Rises 6.4% to $277.2 Million
- Positive Sentiment: Credit concerns eased. Nonaccrual loans declined by $77 million during the quarter to $485 million, helping reassure investors concerned about regional-bank credit quality. The company also repurchased $92.1 million of stock, signaling confidence in valuation and capital strength. Western Alliance Bancorporation Stock Gains Ground As Q3 Results Ease Credit Fears
- Neutral Sentiment: Management expects continued income growth. Western Alliance projected 11%–12% net interest income growth and raised its deposit-optimization target to at least $5 billion. The outlook could support margins, though execution and deposit costs remain important factors. Western Alliance projects 11%-12% net interest income growth
- Negative Sentiment: Analysts remain cautious about future growth. One analysis argues that WAL’s growth profile may slow after the recent earnings improvement, potentially limiting valuation upside despite improving credit metrics and a relatively low earnings multiple. Western Alliance Bancorporation: Slower Future Growth Profile
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs, and individual customers.
Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, construction loans, residential mortgage warehouse lending, and consumer banking services. Its deposit products include checking, savings, money market, and time deposit accounts, while its other services include treasury management, online banking, payments, and wealth management solutions.
The bank serves customers through a combination of regional banking divisions and specialized businesses, with operations focused on markets including Arizona, California, and Nevada as well as nationwide industry-based lending and financial services.
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