Shares of Western Alliance Bancorporation (NYSE:WAL) have been assigned an average recommendation of “Buy” from the thirteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $67.17.
Several research analysts have weighed in on WAL shares. ValuEngine downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Wells Fargo & Co reiterated an “outperform” rating and issued a $62.00 price target (up from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday, January 9th. DA Davidson reiterated a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, January 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $68.00 price target on shares of Western Alliance Bancorporation in a report on Friday, January 26th.
In other news, Chairman Robert Gary Sarver sold 67,057 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $59.95, for a total transaction of $4,020,067.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Randall S. Theisen sold 7,065 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $59.14, for a total value of $417,824.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,602 shares of company stock valued at $4,935,031. Insiders own 7.95% of the company’s stock.
Western Alliance Bancorporation (NYSE:WAL) opened at $62.30 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6,510.14, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.58. Western Alliance Bancorporation has a twelve month low of $44.64 and a twelve month high of $62.48.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. The company had revenue of $224.72 million during the quarter, compared to the consensus estimate of $225.19 million. Western Alliance Bancorporation had a return on equity of 15.50% and a net margin of 36.56%. During the same period in the previous year, the firm posted $0.70 EPS. equities research analysts anticipate that Western Alliance Bancorporation will post 4.01 earnings per share for the current fiscal year.
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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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