Western Alliance Bancorporation (WAL) Getting Somewhat Favorable Media Coverage, Analysis Finds
Media coverage about Western Alliance Bancorporation (NYSE:WAL) has trended somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Western Alliance Bancorporation earned a news impact score of 0.12 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 72 out of 100, meaning that recent media coverage is likely to have an impact on the company’s share price in the near term.
Shares of Western Alliance Bancorporation (WAL) traded up 0.64% on Monday, reaching $47.28. 243,024 shares of the company were exchanged. Western Alliance Bancorporation has a 12-month low of $29.72 and a 12-month high of $53.84. The firm has a market capitalization of $4.92 billion, a PE ratio of 18.18 and a beta of 1.74. The company’s 50 day moving average is $47.37 and its 200 day moving average is $48.87.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $189.22 million for the quarter, compared to analyst estimates of $196.03 million. Western Alliance Bancorporation had a net margin of 34.90% and a return on equity of 14.90%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Analysts forecast that Western Alliance Bancorporation will post $2.97 earnings per share for the current year.
A number of brokerages have recently issued reports on WAL. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $58.00 target price on shares of Western Alliance Bancorporation in a report on Monday, April 10th. Jefferies Group LLC decreased their price target on shares of Western Alliance Bancorporation from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, May 22nd. Zacks Investment Research lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Friday, March 17th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, April 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $56.00.
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.
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