Western Alliance Bancorporation (WAL) Receives Coverage Optimism Rating of 0.20
Headlines about Western Alliance Bancorporation (NYSE:WAL) have trended somewhat positive on Thursday, Accern Sentiment Analysis reports. The research group identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Western Alliance Bancorporation earned a media sentiment score of 0.20 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 46.688489595642 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:
- Investors Recap on Western Alliance Bancorporation (WAL) – Wall Street Morning (wallstreetmorning.com)
- Chart Review: Taking a Look at Western Alliance Bancorporation (WAL) – Wall Street Review (thewallstreetreview.com)
- Westwood Holdings Group Inc Increases Its Stake in Western Alliance Bancorporation (WAL) (highlightpress.com)
- Stocks With Rising Relative Strength: Western Alliance Bancorp (investors.com)
- 4 Reasons to Bet on Western Alliance (WAL) Stock Right Now (finance.yahoo.com)
A number of equities research analysts recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $57.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, July 25th. BidaskClub upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, June 26th. Barclays PLC restated an “overweight” rating and issued a $59.00 price target (up from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Finally, Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $57.20.
Shares of Western Alliance Bancorporation (WAL) traded down 3.31% during midday trading on Thursday, hitting $46.72. The company’s stock had a trading volume of 488,191 shares. Western Alliance Bancorporation has a 52-week low of $35.56 and a 52-week high of $53.84. The stock’s 50 day moving average is $49.60 and its 200-day moving average is $48.99. The firm has a market cap of $4.87 billion, a P/E ratio of 16.87 and a beta of 1.73.
Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $203.19 million during the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. During the same period in the previous year, the business earned $0.62 EPS. Equities analysts predict that Western Alliance Bancorporation will post $3.04 EPS for the current fiscal year.
In other news, Chairman Robert Gary Sarver sold 65,448 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $50.39, for a total transaction of $3,297,924.72. Following the completion of the transaction, the chairman now directly owns 54,000 shares in the company, valued at approximately $2,721,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.95% of the stock is owned by insiders.
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.
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