Research analysts at Barclays PLC assumed coverage on shares of Western Alliance Bancorporation (NYSE:WAL) in a report released on Tuesday. The firm set an “overweight” rating on the financial services provider’s stock.

Several other brokerages also recently commented on WAL. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Thursday, October 27th. Royal Bank Of Canada upped their price target on shares of Western Alliance Bancorporation from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, November 10th. Finally, RBC Capital Markets restated a “buy” rating on shares of Western Alliance Bancorporation in a research report on Saturday, December 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Western Alliance Bancorporation presently has a consensus rating of “Buy” and an average price target of $46.30.

Analyst Recommendations for Western Alliance Bancorporation (NYSE:WAL)

Western Alliance Bancorporation (NYSE:WAL) opened at 52.64 on Tuesday. Western Alliance Bancorporation has a 12 month low of $28.69 and a 12 month high of $53.60. The stock’s 50 day moving average is $49.49 and its 200-day moving average is $42.43. The company has a market capitalization of $5.46 billion, a PE ratio of 21.06 and a beta of 1.56.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.67 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. The business earned $185.75 million during the quarter, compared to the consensus estimate of $193.29 million. Western Alliance Bancorporation had a net margin of 34.95% and a return on equity of 15.12%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, analysts expect that Western Alliance Bancorporation will post $2.97 EPS for the current year.

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In other news, Director William S. Boyd sold 40,000 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $45.10, for a total transaction of $1,804,000.00. Following the completion of the sale, the director now directly owns 9,500 shares in the company, valued at $428,450. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Robert Gary Sarver sold 50,000 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $45.19, for a total transaction of $2,259,500.00. Following the sale, the chairman now owns 1,105,075 shares of the company’s stock, valued at $49,938,339.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 573,238 shares of company stock valued at $27,443,923. Corporate insiders own 10.27% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Calamos Advisors LLC boosted its stake in Western Alliance Bancorporation by 1.4% in the fourth quarter. Calamos Advisors LLC now owns 5,945 shares of the financial services provider’s stock valued at $290,000 after buying an additional 80 shares during the period. Rothschild Asset Management Inc. boosted its stake in Western Alliance Bancorporation by 2.4% in the third quarter. Rothschild Asset Management Inc. now owns 7,837 shares of the financial services provider’s stock valued at $294,000 after buying an additional 185 shares during the period. HighTower Advisors LLC boosted its stake in Western Alliance Bancorporation by 0.7% in the third quarter. HighTower Advisors LLC now owns 35,489 shares of the financial services provider’s stock valued at $1,333,000 after buying an additional 239 shares during the period. Aperio Group LLC boosted its stake in Western Alliance Bancorporation by 4.2% in the third quarter. Aperio Group LLC now owns 11,038 shares of the financial services provider’s stock valued at $414,000 after buying an additional 449 shares during the period. Finally, Foundry Partners LLC boosted its stake in Western Alliance Bancorporation by 8.4% in the third quarter. Foundry Partners LLC now owns 7,725 shares of the financial services provider’s stock valued at $290,000 after buying an additional 600 shares during the period. Institutional investors own 80.70% of the company’s stock.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposits, lending, treasury management and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other.

5 Day Chart for NYSE:WAL

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