Western Alliance Bancorporation (NYSE:WAL) Director Sung Won Sohn sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $55.89, for a total transaction of $279,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Western Alliance Bancorporation (NYSE:WAL) opened at $53.42 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 0.89. Western Alliance Bancorporation has a 1 year low of $42.32 and a 1 year high of $57.04. The firm has a market cap of $5,635.28, a PE ratio of 18.11, a P/E/G ratio of 1.53 and a beta of 1.77.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The business had revenue of $211.50 million during the quarter, compared to the consensus estimate of $212.27 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. research analysts expect that Western Alliance Bancorporation will post 3.07 earnings per share for the current year.
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Several large investors have recently made changes to their positions in WAL. BNP Paribas Arbitrage SA grew its position in shares of Western Alliance Bancorporation by 72.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after buying an additional 1,060 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $133,000. Winfield Associates Inc. grew its position in Western Alliance Bancorporation by 0.6% in the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Western Alliance Bancorporation by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 469 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Western Alliance Bancorporation in the 2nd quarter worth about $202,000. 81.57% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on WAL. SunTrust Banks, Inc. boosted their target price on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. DA Davidson reissued a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Barclays PLC set a $65.00 target price on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $65.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $62.06.
About Western Alliance Bancorporation
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.
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