Western Alliance Bancorp (WAL) Shares Gap Up to $36.91
Western Alliance Bancorp (NYSE:WAL) gapped up before the market opened on Friday . The stock had previously closed at $36.88, but opened at $36.91. Western Alliance Bancorp shares last traded at $37.42, with a volume of 442,492 shares changing hands.
Separately, Zacks Investment Research raised shares of Western Alliance Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Western Alliance Bancorp has a consensus rating of “Buy” and an average target price of $39.50.
The firm has a 50-day moving average price of $34.97 and a 200 day moving average price of $33.84. The stock has a market capitalization of $3.85 billion and a price-to-earnings ratio of 16.26.
Western Alliance Bancorp (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.01. Analysts expect that Western Alliance Bancorp will post $2.54 EPS for the current year.
In other news, EVP Robert Reoch Mcauslan sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $36.50, for a total value of $73,000.00. Following the sale, the executive vice president now directly owns 41,323 shares in the company, valued at approximately $1,508,289.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald D. Snyder sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.78, for a total transaction of $1,073,400.00. Following the completion of the sale, the director now owns 117,579 shares in the company, valued at $4,206,976.62. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Western Alliance Bancorp stock. Morgan Stanley boosted its position in shares of Western Alliance Bancorp (NYSE:WAL) by 540.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423,685 shares of the financial services provider’s stock after buying an additional 357,513 shares during the period. Morgan Stanley owned 0.42% of Western Alliance Bancorp worth $15,194,000 at the end of the most recent quarter.
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.
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