BidaskClub downgraded shares of Western Alliance Bancorporation (NYSE:WAL) from a buy rating to a hold rating in a report released on Tuesday, July 18th.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a buy rating to a hold rating in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a buy rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, May 5th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $58.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, April 10th. Finally, Royal Bank Of Canada restated a buy rating and set a $57.00 target price on shares of Western Alliance Bancorporation in a report on Monday, April 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Western Alliance Bancorporation currently has an average rating of Buy and an average target price of $57.20.
Shares of Western Alliance Bancorporation (NYSE:WAL) traded down 0.65% during trading on Tuesday, hitting $47.59. 596,885 shares of the company were exchanged. The stock has a market cap of $4.96 billion, a P/E ratio of 17.19 and a beta of 1.73. The company’s 50-day moving average price is $49.54 and its 200 day moving average price is $49.03. Western Alliance Bancorporation has a 12 month low of $34.78 and a 12 month high of $53.84.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The firm had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, equities analysts predict that Western Alliance Bancorporation will post $3.04 earnings per share for the current fiscal year.
In related news, Chairman Robert Gary Sarver sold 65,448 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the transaction, the chairman now directly owns 54,000 shares of the company’s stock, valued at $2,721,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.95% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in Western Alliance Bancorporation by 72.1% in the second 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 period. Winfield Associates Inc. boosted its position in Western Alliance Bancorporation by 0.6% in the second 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 period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Western Alliance Bancorporation by 15.5% in the second 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 period. Investment Counselors of Maryland LLC bought a new position in Western Alliance Bancorporation during the first quarter worth approximately $186,000. Finally, Solaris Asset Management LLC boosted its position in Western Alliance Bancorporation by 1.3% in the first quarter. Solaris Asset Management LLC now owns 4,000 shares of the financial services provider’s stock worth $196,000 after buying an additional 50 shares during the period. 84.45% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.