Western Alliance Bancorporation (WAL) Receives Average Recommendation of “Buy” from Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $62.88.

Several research analysts have issued reports on the company. TheStreet cut Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research report on Monday, December 24th. Zacks Investment Research cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Citigroup upgraded Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and dropped their price target for the company from $56.00 to $53.00 in a research report on Tuesday, January 15th.

NYSE:WAL traded down $0.78 during trading hours on Monday, hitting $44.08. The company’s stock had a trading volume of 551,109 shares, compared to its average volume of 1,082,563. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. Western Alliance Bancorporation has a 52-week low of $37.39 and a 52-week high of $64.06.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, January 24th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $281.97 million during the quarter, compared to analysts’ expectations of $262.36 million. Western Alliance Bancorporation had a return on equity of 17.81% and a net margin of 40.48%. Western Alliance Bancorporation’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, analysts predict that Western Alliance Bancorporation will post 4.63 EPS for the current year.

In other news, EVP Randall S. Theisen sold 6,358 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $46.17, for a total value of $293,548.86. Following the completion of the transaction, the executive vice president now owns 39,869 shares in the company, valued at $1,840,751.73. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Randall S. Theisen sold 2,370 shares of the firm’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $46.09, for a total value of $109,233.30. Following the completion of the transaction, the executive vice president now owns 9,179 shares of the company’s stock, valued at approximately $423,060.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,478 shares of company stock valued at $667,285. Company insiders own 7.48% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Paradigm Asset Management Co. LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $54,000. Toronto Dominion Bank increased its position in Western Alliance Bancorporation by 94,800.0% during the 4th quarter. Toronto Dominion Bank now owns 1,898 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,896 shares in the last quarter. Cerebellum GP LLC increased its position in Western Alliance Bancorporation by 32.7% during the 4th quarter. Cerebellum GP LLC now owns 4,180 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 1,030 shares in the last quarter. First Interstate Bank increased its position in Western Alliance Bancorporation by 5.0% during the 4th quarter. First Interstate Bank now owns 5,925 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 280 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Western Alliance Bancorporation during the 4th quarter worth about $258,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

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