Western Alliance Bancorp (NYSE:WAL) has been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the stock. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $42.70.

Several equities research analysts have recently commented on the company. RBC Capital Markets reissued an “outperform” rating and issued a $46.00 price objective (up previously from $42.00) on shares of Western Alliance Bancorp in a report on Thursday, November 10th. Royal Bank Of Canada increased their price target on Western Alliance Bancorp from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, November 10th. Zacks Investment Research cut Western Alliance Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 27th. Jefferies Group restated a “buy” rating and issued a $42.00 price target on shares of Western Alliance Bancorp in a research note on Tuesday, September 27th. Finally, Wells Fargo & Co. began coverage on Western Alliance Bancorp in a research note on Thursday, September 1st. They issued a “market perform” rating on the stock.

Shares of Western Alliance Bancorp (NYSE:WAL) opened at 43.99 on Tuesday. The stock has a 50 day moving average of $38.02 and a 200 day moving average of $36.01. The firm has a market cap of $4.56 billion, a P/E ratio of 18.22 and a beta of 1.62. Western Alliance Bancorp has a 52 week low of $26.60 and a 52 week high of $44.17.

Western Alliance Bancorp (NYSE:WAL) last released its quarterly earnings data on Monday, October 24th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Western Alliance Bancorp had a return on equity of 14.64% and a net margin of 35.19%. During the same period in the prior year, the firm posted $0.53 earnings per share. Analysts anticipate that Western Alliance Bancorp will post $2.50 earnings per share for the current fiscal year.

In other Western Alliance Bancorp news, Chairman Robert Gary Sarver sold 150,000 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $43.96, for a total transaction of $6,594,000.00. Following the transaction, the chairman now owns 1,130,075 shares in the company, valued at approximately $49,678,097. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Duane Ralph Froeschle sold 10,000 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $38.00, for a total value of $380,000.00. Following the transaction, the insider now owns 11,050 shares in the company, valued at approximately $419,900. The disclosure for this sale can be found here. Company insiders own 10.27% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in 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 during the period. Tower Research Capital LLC TRC raised its stake in 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 during the period. Jacobus Wealth Management Inc. bought a new stake in Western Alliance Bancorp during the third quarter valued at about $113,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Western Alliance Bancorp by 12.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,021 shares of the financial services provider’s stock valued at $113,000 after buying an additional 329 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in 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 during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Western Alliance Bancorp Company Profile

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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