Why Western Alliance Stock (WAL) Is Popping Off

Western Alliance Bancorporation WAL shares are trading higher by 7.08% to $46.12 Wednesday afternoon after Wedbush maintained an Outperform rating on the stock and raised its price target from $45 to $50.

Western Alliance on Tuesday reported worse-than-expected second-quarter results and a drop in net interest margin. Shares of bank stocks are also trading higher in recent sessions following recent strong earnings from multiple companies in the sector.

See Also: What's Going On With Bank Of America Shares

According to data from Benzinga Pro, WAL has a 52-week high of $86.87 and a 52-week low of $7.46.