Somewhat Positive Media Coverage Somewhat Unlikely to Impact Western Alliance Bancorporation (WAL) Stock Price
News articles about Western Alliance Bancorporation (NYSE:WAL) have trended somewhat positive this week, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Western Alliance Bancorporation earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 46.5692132296562 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- Western Alliance Bancorporation (WAL) Investment Up in Latest Report from Jpmorgan Chase & Co (highlightpress.com)
- IHS Markit Score downgrades Western Alliance Bancorp to 48 out of 100, ranking positively in two out of three available IHS Markit categories. (finance.yahoo.com)
- Traders are Looking Closer at These Shares: Western Alliance … – Financial News Review (finnewsreview.com)
- Western Alliance Bancorporation (NYSE:WAL) Sees Light Trading Volume with 410K Shares Changing Hands – First News 24 (firstnewspaper24.com)
Shares of Western Alliance Bancorporation (NYSE:WAL) opened at 47.59 on Friday. The stock has a 50 day moving average of $49.54 and a 200-day moving average of $49.03. Western Alliance Bancorporation has a 12 month low of $35.25 and a 12 month high of $53.84. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 17.19 and a beta of 1.73.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. Western Alliance Bancorporation had a net margin of 35.67% and a return on equity of 15.23%. The business had revenue of $203.19 million during the quarter, compared to the consensus estimate of $203.71 million. During the same quarter last year, the firm posted $0.62 EPS. On average, analysts forecast that Western Alliance Bancorporation will post $3.04 EPS for the current year.
Several research analysts have recently weighed in on WAL shares. Keefe, Bruyette & Woods set a $58.00 price target on shares of Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, June 26th. Zacks Investment Research cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, July 25th. BidaskClub cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $59.00 price target (up previously from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $57.20.
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In related news, Chairman Robert Gary Sarver sold 65,448 shares of Western Alliance Bancorporation stock in a transaction on Monday, July 24th. The shares were sold at an average price of $50.39, for a total value of $3,297,924.72. Following the completion of the sale, the chairman now owns 54,000 shares of the company’s stock, valued at approximately $2,721,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.95% of the company’s stock.
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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