Western Alliance Bancorporation (NYSE:WAL) has been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $67.17.
A number of equities research analysts have weighed in on WAL shares. ValuEngine lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, January 26th. DA Davidson reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, January 26th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Western Alliance Bancorporation in a report on Monday, January 29th.
In other news, SVP J. Kelly Jr. Ardrey sold 538 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $60.30, for a total transaction of $32,441.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $56.36, for a total value of $169,080.00. Following the sale, the executive vice president now directly owns 20,200 shares in the company, valued at approximately $1,138,472. The disclosure for this sale can be found here. Insiders have sold a total of 82,602 shares of company stock worth $4,935,031 in the last three months. Corporate insiders own 7.95% of the company’s stock.
Large investors have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $124,000. American International Group Inc. purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $124,000. Canada Pension Plan Investment Board purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $133,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $202,000. Finally, Dearborn Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $205,000. 82.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Western Alliance Bancorporation (WAL) opened at $62.30 on Friday. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $62.48. The firm has a market capitalization of $6,510.14, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.90 and a quick ratio of 0.90.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.50% and a net margin of 36.56%. The company had revenue of $224.72 million for the quarter, compared to analyst estimates of $225.19 million. During the same quarter in the previous year, the company earned $0.70 EPS. equities research analysts forecast that Western Alliance Bancorporation will post 4.01 earnings per share for the current fiscal 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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