Barclays Keeps Their Buy Rating on Western Alliance (WAL)


In a report released yesterday, Matthew Keating from Barclays maintained a Buy rating on Western Alliance (WAL), with a price target of $58. The company’s shares opened today at $42.

According to TipRanks.com, Keating is a 4-star analyst with an average return of 4.1% and a 53.0% success rate. Keating covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Union Bankshares Corporation, and Dime Community Bancshares.

Western Alliance has an analyst consensus of Strong Buy, with a price target consensus of $63.75, implying a 51.8% upside from current levels. In a report issued on December 26, Stephens also maintained a Buy rating on the stock.

.

See today’s analyst top recommended stocks >>

Based on Western Alliance’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $111 million. In comparison, last year the company had a net profit of $89.31 million.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WAL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Western Alliance Bancorporation engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services for businesses. It operates through the following business segments: Homeowners Association (HOA) Services, Hotel Franchise Finance (HFF), Public & Nonprofit Finance, Technology & Innovation, Other NBL (National Business Lines), and Corporate & Other. The company was founded in 1995 and is headquartered in Phoenix, AZ.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts