Western Alliance (WAL) Received its Third Buy in a Row


After SunTrust Robinson and Citigroup 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 today and set a price target of $55.00. The company’s shares closed last Monday at $48.60, close to its 52-week high of $50.77.

According to TipRanks.com, Stafford is a 4-star analyst with an average return of 4.4% and a 55.1% 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 $57.40 average price target, which is a 17.9% upside from current levels. In a report released today, Citigroup also maintained a Buy rating on the stock with a $58.00 price target.

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Western Alliance’s market cap is currently $4.98B and has a P/E ratio of 10.60. The company has a Price to Book ratio of 1.75.

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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.

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