Western Alliance Bancorporation (NYSE:WAL) has been assigned an average rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings 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 target price among brokerages that have issued ratings on the stock in the last year is $62.36.
A number of equities research analysts have recently weighed in on the company. SunTrust Banks, Inc. boosted their target price on Western Alliance Bancorporation from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Jefferies Group LLC reissued a “buy” rating and issued a $57.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, September 26th. Finally, Barclays PLC set a $62.00 target price on Western Alliance Bancorporation and gave the company a “buy” rating in a research note on Wednesday, October 11th.
Shares of Western Alliance Bancorporation (WAL) opened at $56.68 on Monday. Western Alliance Bancorporation has a 52 week low of $36.48 and a 52 week high of $57.04. The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5,979.17, a PE ratio of 19.21, a PEG ratio of 1.63 and a beta of 1.77.
Western Alliance Bancorporation (NYSE:WAL) last released its earnings results 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 return on equity of 15.37% and a net margin of 36.16%. The company had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. During the same quarter in the previous year, the company posted $0.66 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 15.4% on a year-over-year basis. analysts expect that Western Alliance Bancorporation will post 3.07 earnings per share for the current year.
In related news, Chairman Robert Gary Sarver sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the transaction, the chairman now owns 54,000 shares in the company, valued at approximately $2,611,980. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $56.49, for a total value of $225,960.00. Following the transaction, the executive vice president now owns 23,200 shares in the company, valued at approximately $1,310,568. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,000 shares of company stock worth $14,230,910. 7.95% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in WAL. BlackRock Inc. increased its holdings in Western Alliance Bancorporation by 7,273.7% during the 1st quarter. BlackRock Inc. now owns 4,338,702 shares of the financial services provider’s stock valued at $212,988,000 after purchasing an additional 4,279,862 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of Western Alliance Bancorporation by 38.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,480,947 shares of the financial services provider’s stock worth $121,944,000 after acquiring an additional 686,665 shares during the period. Eagle Asset Management Inc. grew its holdings in shares of Western Alliance Bancorporation by 532.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 721,972 shares of the financial services provider’s stock worth $35,521,000 after acquiring an additional 607,885 shares during the period. Thrivent Financial For Lutherans grew its holdings in shares of Western Alliance Bancorporation by 1,003.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 572,292 shares of the financial services provider’s stock worth $28,157,000 after acquiring an additional 520,412 shares during the period. Finally, Fiera Capital Corp grew its holdings in shares of Western Alliance Bancorporation by 100.8% during the 2nd quarter. Fiera Capital Corp now owns 768,693 shares of the financial services provider’s stock worth $37,820,000 after acquiring an additional 385,877 shares during the period. Institutional investors own 81.55% of the company’s stock.
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Western Alliance Bancorporation Company Profile
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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