DA Davidson Cuts Western Alliance Bancorporation (NYSE:WAL) Price Target to $106.00

Western Alliance Bancorporation (NYSE:WAL) had its price objective reduced by DA Davidson from $110.00 to $106.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Western Alliance Bancorporation’s Q1 2025 earnings at $1.74 EPS.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Finally, Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average target price of $97.07.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $87.84 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.67 billion, a P/E ratio of 12.37, a PEG ratio of 0.84 and a beta of 1.46. The company has a 50-day moving average price of $88.07 and a 200 day moving average price of $84.32. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 8.86 earnings per share for the current year.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several large investors have recently bought and sold shares of WAL. State Street Corp grew its position in shares of Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after buying an additional 1,418,472 shares in the last quarter. FMR LLC grew its holdings in Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at approximately $39,230,000. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $38,386,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

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.