Stephens analyst Tyler Stafford maintained a Buy rating on Western Alliance (WAL) today and set a price target of $54. The company’s shares opened today at $44.16.
Stafford observed:
“We maintain our OW rating given the impressive implications for the remainder of 2019.Stephens Inc. Page 2 APPENDIX A ANALYST CERTIFICATION The analyst primarily responsible for the preparation of the content of this report certifies that (i) all views expressed in this report accurately reflect the analyst’s personal views about the subject company and securities, and (ii) no part of the analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in this report. REQUIRED DISCLOSURES The research analyst principally responsible for preparation of this report has received compensation that is based on the firm’s overall revenue which includes investment banking revenue. Stephens Inc. maintains a market in the common stock of Western Alliance Bancorp.”
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 4.3% and a 52.8% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Western Alliance with a $56.60 average price target.
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Based on Western Alliance’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $121 million. In comparison, last year the company had a net profit of $101 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock.
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Western Alliance Bancorporation is a bank holding company, which 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 and Innovation; Other NBL (National Business Lines); and Corporate and Other. The company was founded in 1995 and is headquartered in Phoenix, AZ.
