Stephens Thinks Western Alliance’s Stock is Going to Recover


Stephens analyst Tyler Stafford maintained a Buy rating on Western Alliance (WAL) yesterday and set a price target of $54. The company’s shares closed yesterday at $39.61, close to its 52-week low of $39.17.

According to TipRanks.com, Stafford is a 3-star analyst with an average return of 1.3% and a 49.1% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pinnacle Financial Partners.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Western Alliance with a $64 average price target.

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Western Alliance’s market cap is currently $4.19B and has a P/E ratio of 10.29. The company has a Price to Book ratio of 1.69.

Based on the recent corporate insider activity of 75 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.

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