Insider Selling: Western Alliance Bancorporation CEO Sells 94,326 Shares of Stock (WAL)
Western Alliance Bancorporation (NYSE:WAL) CEO Robert Gary Sarver sold 94,326 shares of the company’s stock on the open market in a transaction dated Friday, April 25th. The shares were sold at an average price of $23.59, for a total transaction of $2,225,150.34. Following the transaction, the chief executive officer now directly owns 1,813,161 shares in the company, valued at approximately $42,772,468. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at FIG Partners upgraded shares of Western Alliance Bancorporation from a “market perform” rating to an “outperform” rating in a research note on Monday. They now have a $26.00 price target on the stock. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Wednesday, April 23rd. They now have a $26.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Western Alliance Bancorporation from $26.00 to $27.00 in a research note on Wednesday, April 23rd. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $25.41.
Western Alliance Bancorporation (NYSE:WAL) traded up 2.75% on Monday, hitting $23.51. 66,665 shares of the company’s stock traded hands. Western Alliance Bancorporation has a 52 week low of $13.64 and a 52 week high of $25.75. The stock has a 50-day moving average of $23.94 and a 200-day moving average of $22.7. The company has a market cap of $2.021 billion and a price-to-earnings ratio of 17.47.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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