In a report released on January 10, Jon Arfstrom from RBC Capital maintained a Buy rating on Western Alliance (WAL – Research Report), with a price target of $74.00. The company’s shares closed yesterday at $63.89.
According to TipRanks, Arfstrom is a 5-star analyst with an average return of 15.2% and a 56.57% success rate. Arfstrom covers the Financial sector, focusing on stocks such as First Horizon, Huntington Bancshares, and Synovus.
In addition to RBC Capital, Western Alliance also received a Buy from Jefferies’s Ken Usdin in a report issued on January 9. However, on January 3, Deutsche Bank maintained a Hold rating on Western Alliance (NYSE: WAL).
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Based on Western Alliance’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $716.2 million and a net profit of $216.6 million. In comparison, last year the company earned a revenue of $663.9 million and had a net profit of $264 million
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 (WAL) Company Description:
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.
Read More on WAL:
- Western Alliance put volume heavy and directionally bearish
- Western Alliance price target raised to $85 from $80 at JPMorgan
- Western Alliance price target raised by $20 at Truist, here’s why
- Western Alliance price target raised to $80 from $60 at Truist
- Western Alliance price target raised by $4 at BofA
