Western Alliance Bancorp (NYSE:WAL) Director M Nafees Nagy sold 27,700 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $38.03, for a total value of $1,053,431.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Western Alliance Bancorp (NYSE:WAL) traded up 6.81% during mid-day trading on Thursday, hitting $42.95. The company’s stock had a trading volume of 193,422 shares. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 17.79 and a beta of 1.62. The firm has a 50 day moving average of $37.69 and a 200-day moving average of $35.91. Western Alliance Bancorp has a 52-week low of $26.60 and a 52-week high of $43.20.

Western Alliance Bancorp (NYSE:WAL) last announced its quarterly earnings results on Monday, October 24th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Western Alliance Bancorp had a net margin of 35.19% and a return on equity of 14.64%. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities research analysts expect that Western Alliance Bancorp will post $2.50 EPS for the current fiscal year.

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

Hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Western Alliance Bancorp by 899.1% in the second quarter. Fifth Third Bancorp now owns 3,277 shares of the financial services provider’s stock valued at $107,000 after buying an additional 2,949 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Western Alliance Bancorp by 163.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,455 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,143 shares in the last quarter. Jacobus Wealth Management Inc. acquired a new stake in shares of Western Alliance Bancorp during the third quarter valued at $113,000. Advisors Asset Management Inc. boosted its stake in shares of Western Alliance Bancorp by 241.3% in the second quarter. Advisors Asset Management Inc. now owns 3,881 shares of the financial services provider’s stock valued at $127,000 after buying an additional 2,744 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Western Alliance Bancorp by 73.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,131 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,754 shares in the last quarter. 79.31% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on WAL. Jefferies Group restated a “buy” rating and issued a $42.00 price target on shares of Western Alliance Bancorp in a research report on Tuesday, September 27th. Zacks Investment Research downgraded Western Alliance Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Wells Fargo & Co. initiated coverage on Western Alliance Bancorp in a research note on Thursday, September 1st. They set a “market perform” rating on the stock. RBC Capital Markets raised their price objective on Western Alliance Bancorp from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Royal Bank Of Canada raised their price objective on Western Alliance Bancorp from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.42.

About Western Alliance Bancorp

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

5 Day Chart for NYSE:WAL

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