Insider Selling: Robert Gary Sarver Sells 100,000 Shares of Western Alliance Bancorp. Stock (WAL)
Western Alliance Bancorp. (NYSE:WAL) CEO Robert Gary Sarver sold 100,000 shares of Western Alliance Bancorp. stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $23.79, for a total transaction of $2,379,000.00. Following the transaction, the chief executive officer now directly owns 1,909,469 shares of the company’s stock, valued at approximately $45,426,268. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Western Alliance Bancorp. (NYSE:WAL) traded up 1.44% during mid-day trading on Tuesday, hitting $23.95. 600,366 shares of the company’s stock traded hands. Western Alliance Bancorp. has a 52-week low of $12.09 and a 52-week high of $25.27. The stock’s 50-day moving average is $23.46 and its 200-day moving average is $20.33. The company has a market cap of $2.056 billion and a P/E ratio of 18.02.
Western Alliance Bancorp. (NYSE:WAL) last released its earnings data on Wednesday, January 22nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, analysts predict that Western Alliance Bancorp. will post $1.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on WAL shares. Analysts at Sandler O’Neill upgraded shares of Western Alliance Bancorp. from a “hold” rating to a “buy” rating in a research note to investors on Monday. They now have a $27.00 price target on the stock, up previously from $24.00. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Western Alliance Bancorp. from $21.00 to $24.00 in a research note to investors on Monday. Finally, analysts at Zacks downgraded shares of Western Alliance Bancorp. from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, January 1st. They now have a $25.70 price target on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Western Alliance Bancorp. currently has an average rating of “Buy” and an average price target of $22.63.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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