Insider Selling: Western Alliance Bancorporation Director Sells 5,000 Shares of Stock (WAL)
Western Alliance Bancorporation (NYSE:WAL) Director Bruce D. Beach sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $23.47, for a total value of $117,350.00. Following the completion of the sale, the director now directly owns 38,489 shares of the company’s stock, valued at approximately $903,337. The transaction was disclosed in a filing with the SEC, which is available at this link.
WAL has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Western Alliance Bancorporation from $28.00 to $29.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Western Alliance Bancorporation from $2.00 to $27.00 in a research note on Monday. They now have a “market perform” rating on the stock. Finally, analysts at Zacks downgraded shares of Western Alliance Bancorporation from an “outperform” rating to a “neutral” rating in a research note on Monday, June 30th. They now have a $28.20 price target on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $27.02.
Western Alliance Bancorporation (NYSE:WAL) traded up 1.11% during mid-day trading on Thursday, hitting $23.59. The stock had a trading volume of 304,728 shares. Western Alliance Bancorporation has a 52 week low of $16.16 and a 52 week high of $25.75. The stock has a 50-day moving average of $24.14 and a 200-day moving average of $23.39. The company has a market cap of $2.041 billion and a P/E ratio of 16.22.
Western Alliance Bancorporation (NYSE:WAL) last released its earnings data on Thursday, July 17th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. During the same quarter in the previous year, the company posted $0.30 earnings per share. Analysts expect that Western Alliance Bancorporation will post $1.56 EPS for the current fiscal year.
Western Alliance Bancorporation (NYSE:WAL) is a bank holding company.
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