Western Alliance Bancorporation (NYSE: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.

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