Western Alliance Bancorporation (WAL) Receives $67.17 Average PT from Analysts
Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average rating of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $67.17.
Several analysts recently commented on WAL shares. ValuEngine lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Barclays lifted their price objective on Western Alliance Bancorporation from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Western Alliance Bancorporation in a report on Saturday, January 6th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. Finally, Stephens started coverage on Western Alliance Bancorporation in a report on Wednesday, January 17th. They issued an “overweight” rating and a $68.00 price objective for the company.
In related news, EVP Robert Reoch Mcauslan sold 2,000 shares of Western Alliance Bancorporation stock in a transaction on Friday, March 9th. The stock was sold at an average price of $61.94, for a total transaction of $123,880.00. Following the transaction, the executive vice president now directly owns 25,603 shares in the company, valued at $1,585,849.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Gary Sarver sold 67,057 shares of Western Alliance Bancorporation stock in a transaction on Monday, March 5th. The shares were sold at an average price of $59.95, for a total value of $4,020,067.15. The disclosure for this sale can be found here. Insiders have sold 84,602 shares of company stock worth $5,058,911 over the last quarter. 7.95% of the stock is owned by company insiders.
Western Alliance Bancorporation (NYSE WAL) traded down $2.01 during trading on Friday, hitting $60.04. The company’s stock had a trading volume of 453,760 shares, compared to its average volume of 703,890. The company has a market cap of $6,540.79, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.58. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $62.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.03. Western Alliance Bancorporation had a return on equity of 15.50% and a net margin of 36.56%. The business had revenue of $224.72 million during the quarter, compared to analyst estimates of $225.19 million. During the same quarter last year, the company earned $0.70 EPS. research analysts expect that Western Alliance Bancorporation will post 4.01 earnings per share for the current fiscal year.
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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