In a report released today, Michael Young from SunTrust Robinson maintained a Buy rating on Western Alliance (WAL), with a price target of $56.00. The company’s shares closed last Monday at $43.48.
According to TipRanks.com, Young is a 2-star analyst with an average return of 0.9% and a 49.4% success rate. Young covers the Financial sector, focusing on stocks such as Wintrust Financial Corp, Associated Banc-Corp, and Glacier Bancorp.
Currently, the analyst consensus on Western Alliance is a Strong Buy with an average price target of $57.20, implying a 33.0% upside from current levels. In a report issued on September 26, Stephens also maintained a Buy rating on the stock with a $55.00 price target.
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Western Alliance’s market cap is currently $4.54B and has a P/E ratio of 9.67. The company has a Price to Book ratio of 1.59.
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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.
