Western Alliance Bancorp (NYSE:WAL) Director William S. Boyd sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $45.10, for a total transaction of $1,804,000.00. Following the completion of the transaction, the director now owns 9,500 shares of the company’s stock, valued at $428,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Western Alliance Bancorp (NYSE:WAL) opened at 45.78 on Friday. The firm has a market capitalization of $4.75 billion, a PE ratio of 18.96 and a beta of 1.62. The firm has a 50-day moving average of $39.65 and a 200-day moving average of $36.51. Western Alliance Bancorp has a 1-year low of $26.60 and a 1-year high of $46.44.

Western Alliance Bancorp (NYSE:WAL) last announced its quarterly earnings data on Monday, October 24th. The financial services provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter in the previous year, the company posted $0.53 earnings per share. On average, equities research analysts anticipate 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)

Several research analysts have commented on the stock. RBC Capital Markets reiterated an “outperform” rating and issued a $46.00 target price (up from $42.00) on shares of Western Alliance Bancorp in a report on Thursday, November 10th. Royal Bank Of Canada raised their target price on shares of Western Alliance Bancorp from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, November 10th. Wells Fargo & Co. started coverage on shares of Western Alliance Bancorp in a report on Thursday, September 1st. They set a “market perform” rating for the company. Zacks Investment Research cut shares of Western Alliance Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 27th. Finally, Jefferies Group restated a “buy” rating and set a $42.00 price target on shares of Western Alliance Bancorp in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.42.

Hedge funds have recently made changes to their positions in the stock. Westwood Holdings Group Inc. boosted its stake in shares of Western Alliance Bancorp by 6,265.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,955,702 shares of the financial services provider’s stock worth $63,854,000 after buying an additional 1,924,980 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Western Alliance Bancorp by 54.4% in the third quarter. Victory Capital Management Inc. now owns 4,158,272 shares of the financial services provider’s stock worth $156,102,000 after buying an additional 1,465,073 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Western Alliance Bancorp by 39.8% in the second quarter. Lord Abbett & CO. LLC now owns 3,027,841 shares of the financial services provider’s stock worth $98,859,000 after buying an additional 861,446 shares during the period. Mesirow Financial Investment Management Equity Management boosted its stake in shares of Western Alliance Bancorp by 812.7% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 721,709 shares of the financial services provider’s stock worth $23,564,000 after buying an additional 642,636 shares during the period. Finally, RMB Capital Management LLC bought a new stake in shares of Western Alliance Bancorp during the third quarter worth approximately $16,893,000. 80.65% of the stock is owned by institutional investors.

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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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