Shares of Western Alliance Bancorp (NYSE:WAL) have earned an average rating of “Buy” from the seven research firms that are covering the firm. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.88.
WAL has been the topic of several recent analyst reports. Zacks Investment Research raised Western Alliance Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Jefferies Group reissued a “buy” rating and issued a $42.00 target price on shares of Western Alliance Bancorp in a report on Tuesday, September 27th. Finally, Wells Fargo & Co. initiated coverage on Western Alliance Bancorp in a report on Thursday, September 1st. They issued a “market perform” rating on the stock.
Western Alliance Bancorp (NYSE:WAL) opened at 37.31 on Tuesday. Western Alliance Bancorp has a 12 month low of $26.60 and a 12 month high of $39.52. The firm has a market capitalization of $3.83 billion, a PE ratio of 16.19 and a beta of 1.61. The stock’s 50 day moving average price is $37.46 and its 200 day moving average price is $35.50.
Western Alliance Bancorp (NYSE:WAL) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Western Alliance Bancorp had a return on equity of 14.48% and a net margin of 35.86%. Equities research analysts expect that Western Alliance Bancorp will post $2.54 earnings per share for the current fiscal year.
In related news, Director Donald D. Snyder sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.78, for a total value of $1,073,400.00. Following the completion of the transaction, the director now owns 117,579 shares in the company, valued at approximately $4,206,976.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel P. Myers sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $36.00, for a total transaction of $540,000.00. Following the completion of the transaction, the executive vice president now owns 62,359 shares of the company’s stock, valued at approximately $2,244,924. The disclosure for this sale can be found here. 10.27% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in Western Alliance Bancorp by 899.1% in the second quarter. Fifth Third Bancorp now owns 3,277 shares of the financial services provider’s stock valued at $107,000 after buying an additional 2,949 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Western Alliance Bancorp by 163.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,455 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,143 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Western Alliance Bancorp by 241.3% in the second quarter. Advisors Asset Management Inc. now owns 3,881 shares of the financial services provider’s stock valued at $127,000 after buying an additional 2,744 shares during the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Western Alliance Bancorp by 1.3% in the second quarter. TCI Wealth Advisors Inc. now owns 5,191 shares of the financial services provider’s stock valued at $169,000 after buying an additional 66 shares during the last quarter. Finally, AXA acquired a new stake in shares of Western Alliance Bancorp during the first quarter valued at approximately $187,000. Hedge funds and other institutional investors own 79.09% of the company’s stock.
About Western Alliance Bancorp
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.
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