Positive Press Coverage Somewhat Unlikely to Affect Western Alliance Bancorporation (WAL) Share Price
Media coverage about Western Alliance Bancorporation (NYSE:WAL) has been trending positive on Sunday, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Western Alliance Bancorporation earned a daily sentiment score of 0.27 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 45.6324937138797 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news articles that may have impacted Accern’s analysis:
- Steve Erwin, U.S. Bank region president to retire (journalstar.com)
- June Abbott Joins Bank of Nevada as Vice President, Relationship Manager (nevadabusiness.com)
- Western Alliance Bancorporation (WAL) Given Consensus Recommendation of “Buy” by Analysts (americanbankingnews.com)
- $228.90 Million in Sales Expected for Western Alliance Bancorporation (WAL) This Quarter (americanbankingnews.com)
Western Alliance Bancorporation (NYSE:WAL) traded up $0.82 during trading hours on Friday, reaching $61.16. The company’s stock had a trading volume of 593,607 shares, compared to its average volume of 788,893. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $6,451.58, a PE ratio of 19.73, a PEG ratio of 1.17 and a beta of 1.63. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $61.50.
Several equities analysts recently weighed in on WAL shares. DA Davidson reiterated a “buy” rating and set a $64.00 target price on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Barclays set a $65.00 target price on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday, October 23rd. SunTrust Banks lifted their target price on Western Alliance Bancorporation from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. ValuEngine downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $62.00 target price (up from $54.00) on shares of Western Alliance Bancorporation in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Western Alliance Bancorporation currently has a consensus rating of “Buy” and an average price target of $66.59.
In other Western Alliance Bancorporation news, EVP Robert Reoch Mcauslan sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $56.36, for a total transaction of $169,080.00. Following the sale, the executive vice president now directly owns 20,200 shares of the company’s stock, valued at $1,138,472. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Randall S. Theisen sold 2,942 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $59.00, for a total value of $173,578.00. Following the sale, the executive vice president now directly owns 39,321 shares in the company, valued at $2,319,939. The disclosure for this sale can be found here. 7.95% of the stock is owned by company 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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