Western Alliance Bancorporation (NYSE:WAL) has received an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $61.00.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. ValuEngine upgraded Western Alliance Bancorporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Co boosted their price target on Western Alliance Bancorporation from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th.
Shares of WAL traded down $0.54 during trading hours on Friday, hitting $44.56. The company had a trading volume of 404,169 shares, compared to its average volume of 878,297. The company has a market cap of $4.67 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.84 and a beta of 1.57. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.14. Western Alliance Bancorporation has a 52-week low of $37.39 and a 52-week high of $64.06.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, April 22nd. The financial services provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.06. The firm had revenue of $259.90 million for the quarter, compared to the consensus estimate of $266.48 million. Western Alliance Bancorporation had a return on equity of 17.84% and a net margin of 40.08%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 4.72 earnings per share for the current fiscal year.
In other Western Alliance Bancorporation news, insider Robert Gary Sarver sold 66,351 shares of Western Alliance Bancorporation stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $46.71, for a total transaction of $3,099,255.21. Following the sale, the insider now directly owns 59,504 shares of the company’s stock, valued at approximately $2,779,431.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce D. Beach sold 3,750 shares of Western Alliance Bancorporation stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $46.55, for a total value of $174,562.50. Following the sale, the director now directly owns 5,000 shares in the company, valued at $232,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,459 shares of company stock worth $3,657,307. 7.72% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of WAL. Wellington Management Group LLP boosted its position in Western Alliance Bancorporation by 38.2% during the 1st quarter. Wellington Management Group LLP now owns 3,840,715 shares of the financial services provider’s stock valued at $157,622,000 after acquiring an additional 1,061,744 shares in the last quarter. Davis Capital Partners LLC boosted its position in Western Alliance Bancorporation by 200.0% during the 1st quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock valued at $61,560,000 after acquiring an additional 1,000,000 shares in the last quarter. Norges Bank bought a new stake in Western Alliance Bancorporation during the 4th quarter valued at approximately $33,692,000. Two Sigma Investments LP boosted its position in Western Alliance Bancorporation by 95.1% during the 4th quarter. Two Sigma Investments LP now owns 950,458 shares of the financial services provider’s stock valued at $37,534,000 after acquiring an additional 463,273 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Western Alliance Bancorporation by 73.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 921,950 shares of the financial services provider’s stock valued at $37,837,000 after acquiring an additional 389,640 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors and hedge funds.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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