Positive Media Coverage Somewhat Unlikely to Affect Western Alliance Bancorporation (WAL) Share Price
Media coverage about Western Alliance Bancorporation (NYSE:WAL) has been trending positive on Wednesday, according to Accern. The research firm ranks the sentiment of media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Western Alliance Bancorporation earned a media sentiment score of 0.26 on Accern’s scale. Accern also gave news coverage about the financial services provider an impact score of 45.5811004835517 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
WAL has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Sandler O’Neill restated a “buy” rating and issued a $69.00 price objective on shares of Western Alliance Bancorporation in a report on Monday, January 29th. Jefferies Group restated a “buy” rating and issued a $65.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. Wells Fargo & Co restated an “outperform” rating and issued a $62.00 price objective (up from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, December 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.59.
Shares of Western Alliance Bancorporation (NYSE WAL) traded up $1.89 on Wednesday, hitting $59.99. 894,382 shares of the stock were exchanged, compared to its average volume of 758,546. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. Western Alliance Bancorporation has a 1 year low of $44.64 and a 1 year high of $60.71. The company has a market cap of $6,109.81, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.63.
In related news, Director Marianne Boyd Johnson sold 4,000 shares of Western Alliance Bancorporation stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total value of $217,680.00. Following the transaction, the director now directly owns 3,295 shares of the company’s stock, valued at $179,313.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of Western Alliance Bancorporation stock in a transaction on Friday, December 15th. The stock was sold at an average price of $56.36, for a total transaction of $169,080.00. Following the completion of the transaction, the executive vice president now directly owns 20,200 shares in the company, valued at $1,138,472. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,942 shares of company stock worth $560,338. 7.95% of the stock is owned by insiders.
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About Western Alliance Bancorporation
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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