Western Alliance Bancorporation (NYSE:WAL) has been assigned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $67.17.
Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Barclays reaffirmed a “buy” rating and set a $70.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 30th. SunTrust Banks reaffirmed a “buy” rating and set a $70.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, January 29th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $69.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, January 29th.
In other news, Chairman Robert Gary Sarver sold 67,057 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $59.95, for a total value of $4,020,067.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randall S. Theisen sold 2,942 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total value of $173,578.00. Following the completion of the sale, the executive vice president now directly owns 39,321 shares of the company’s stock, valued at approximately $2,319,939. The disclosure for this sale can be found here. In the last three months, insiders sold 81,602 shares of company stock valued at $4,889,831. 7.95% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAL. American International Group Inc. acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at $124,000. Cerebellum GP LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at $124,000. Canada Pension Plan Investment Board acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $133,000. MAI Capital Management acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at $208,000. Finally, Timber Hill LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at $208,000. 83.33% of the stock is owned by institutional investors.
Shares of Western Alliance Bancorporation (NYSE:WAL) traded up $0.53 on Friday, hitting $60.71. 1,261,392 shares of the stock traded hands, compared to its average volume of 718,577. The company has a market cap of $6,346.36, a PE ratio of 19.58, a P/E/G ratio of 1.15 and a beta of 1.58. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $62.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $224.72 million during the quarter, compared to analysts’ expectations of $225.19 million. Western Alliance Bancorporation had a net margin of 36.56% and a return on equity of 15.50%. During the same period last year, the business earned $0.70 EPS. equities research analysts forecast that Western Alliance Bancorporation will post 4.01 EPS for the current year.
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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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