Western Alliance stock price target maintained at $104 by DA Davidson

Investing.com - DA Davidson has reiterated its Buy rating and $104.00 price target on Western Alliance Bancorporation (NYSE:WAL) following the bank’s recent earnings report. The bank, currently valued at $8.56 billion, trades at an attractive 10.3x P/E ratio, with InvestingPro data showing the stock trading below its Fair Value.

The firm noted that Western Alliance shares have rallied 12% since reaching a recent closing low of $70.32 on October 16, including a 3.2% gain on the day of the analysis, outperforming the KBW Regional Banking Index by 350 basis points post-earnings. Analyst sentiment remains strong, with consensus targets ranging from $90 to $118, while revenue growth reached 10.46% in the latest quarter.

DA Davidson cited Western Alliance’s "solid quarter" as a key factor in its rating decision, along with additional detail provided by the company on two recently disclosed credit issues.

The analyst report also highlighted "greater insight" into Western Alliance’s non-depository financial institution (NDFI) loan portfolio, which is primarily mortgage-related, as a positive factor that should support further share price appreciation.

DA Davidson indicated that continued upside for Western Alliance stock depends on near-term credit metrics maintaining their positive trend. Seven analysts have recently revised their earnings expectations upward for the upcoming period, according to InvestingPro data.

In other recent news, Western Alliance Bancorporation reported stronger-than-expected financial results for the third quarter of 2025. The company achieved an earnings per share of $2.28, surpassing the analysts’ forecast of $2.08. Additionally, Western Alliance generated a revenue of $938.2 million, exceeding the anticipated $887.7 million. These positive earnings results were noted despite some provision headwinds related to a previously disclosed alleged fraud issue. RBC Capital has reiterated its Outperform rating for Western Alliance, maintaining a price target of $100.00. The firm highlighted the bank’s financial performance in its analysis, suggesting confidence in the company’s future prospects. These developments are part of the latest updates concerning Western Alliance.

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