Western Alliance Bancorporation (WAL) Director Marianne Boyd Johnson Sells 4,000 Shares of Stock

Western Alliance Bancorporation (NYSE:WAL) Director Marianne Boyd Johnson sold 4,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the sale, the director now owns 3,295 shares of the company’s stock, valued at approximately $179,313.90. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Western Alliance Bancorporation (WAL) opened at $55.31 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5,772.42, a PE ratio of 18.55, a P/E/G ratio of 1.57 and a beta of 1.77. Western Alliance Bancorporation has a fifty-two week low of $43.95 and a fifty-two week high of $57.04.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $212.27 million. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. analysts predict that Western Alliance Bancorporation will post 3.07 earnings per share for the current fiscal year.

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Several research firms have recently issued reports on WAL. SunTrust Banks, Inc. upped 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 note on Thursday, October 26th. DA Davidson reiterated a “buy” rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a research note 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 note on Monday, October 23rd. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $62.06.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Western Alliance Bancorporation by 72.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,060 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth about $133,000. Winfield Associates Inc. boosted its holdings in shares of 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 buying an additional 20 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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 buying an additional 469 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Western Alliance Bancorporation in the 2nd quarter worth about $202,000. 81.05% of the stock is currently owned by institutional investors.

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.

Insider Buying and Selling by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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