After Barclays and Wedbush gave Western Alliance (NYSE: WAL) a Buy rating last month, the company received another Buy, this time from Stephens. Analyst Tyler Stafford maintained a Buy rating on Western Alliance yesterday and set a price target of $54. The company’s shares closed yesterday at $43.37.
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 4.7% and a 52.6% 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 $54.60 average price target.
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Based on Western Alliance’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $119 million. In comparison, last year the company had a net profit of $101 million.
Based on the recent corporate insider activity of 50 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.
