Western Alliance Bancorporation (NYSE:WAL) ranks among the mid-cap stocks to buy according to top investors. While retaining a Buy rating on Western Alliance Bancorporation (NYSE:WAL), DA Davidson increased its price target for the company’s shares from $104 to $105 on January 29. The revision comes after Western Alliance’s quarterly results, which, according to DA Davidson, slightly exceeded projections on a pretax basis. A lower tax rate for the quarter backed an improved after-tax beat.
The company raked in an EPS of $2.59, which was greater than the expected $2.39, resulting in an 8.37% surprise. Revenue also topped projections, reaching $980.9 million vs the estimated $913.4 million.
DA Davidson regarded Western Alliance’s initial 2026 projection to be in favor of its above-average EPS estimate, citing robust top-line revenue growth and strong year-over-year operating leverage. The firm also emphasized Western Alliance’s efforts to reduce non-performing asset (NPA) levels during the initial half of the year, which it expects would be favorably accepted by investors.
Western Alliance Bancorporation is a bank holding company for Western Alliance Bank, offering a range of banking services for businesses and individuals.
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This article is originally published at Insider Monkey.
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