Western Alliance Bancorporation (WAL) Given Consensus Rating of “Buy” by Analysts

Shares of Western Alliance Bancorporation (NYSE:WAL) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $62.36.

Several equities research analysts recently issued reports on the company. BidaskClub downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Jefferies Group restated a “buy” rating and set a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Barclays set a $62.00 price target on Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, SunTrust Banks started coverage on Western Alliance Bancorporation in a report on Friday, August 18th. They set a “buy” rating and a $59.00 price target on the stock.

In other news, Director Marianne Boyd Johnson sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.42, for a total transaction of $217,680.00. Following the transaction, the director now owns 3,295 shares in the company, valued at $179,313.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William S. Boyd sold 10,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $55.55, for a total value of $555,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,000 shares of company stock worth $9,611,590. Insiders own 7.95% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in Western Alliance Bancorporation in the third quarter valued at $133,000. BNP Paribas Arbitrage SA raised its stake in Western Alliance Bancorporation by 72.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,060 shares during the period. Winfield Associates Inc. raised its stake in Western Alliance Bancorporation by 0.6% during the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 20 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Western Alliance Bancorporation by 15.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 469 shares during the period. Finally, Dearborn Partners LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 81.78% of the company’s stock.

Western Alliance Bancorporation (WAL) opened at $58.18 on Friday. Western Alliance Bancorporation has a 12-month low of $44.64 and a 12-month high of $59.70. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The company has a market cap of $5,998.17, a P/E ratio of 19.27, a PEG ratio of 1.63 and a beta of 1.77.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $211.50 million for the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a return on equity of 15.37% and a net margin of 36.16%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. sell-side analysts predict that Western Alliance Bancorporation will post 3.07 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/12/01/western-alliance-bancorporation-wal-given-consensus-rating-of-buy-by-analysts.html.

Western Alliance Bancorporation Company Profile

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.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply