News stories about Western Alliance Bancorporation (NYSE:WAL) have been trending positive on Monday, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Western Alliance Bancorporation earned a daily sentiment score of 0.26 on Accern’s scale. Accern also gave news stories about the financial services provider an impact score of 45.6597373765086 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Western Alliance Bancorporation (WAL) opened at 53.35 on Monday. The firm has a 50-day moving average price of $49.15 and a 200-day moving average price of $48.47. Western Alliance Bancorporation has a one year low of $35.56 and a one year high of $54.29. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 19.27 and a beta of 1.75.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The company had revenue of $203.19 million for the quarter, compared to analyst estimates of $203.71 million. Western Alliance Bancorporation had a return on equity of 15.23% and a net margin of 35.67%. During the same quarter in the prior year, the company earned $0.62 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post $3.04 earnings per share for the current year.
A number of research analysts have weighed in on WAL shares. Keefe, Bruyette & Woods set a $58.00 price objective on Western Alliance Bancorporation and gave the company a “buy” rating in a report on Monday, June 26th. BidaskClub lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Barclays PLC restated an “overweight” rating and issued a $59.00 price objective (up previously from $58.00) on shares of Western Alliance Bancorporation in a report on Monday, July 24th. Zacks Investment Research upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, July 25th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $57.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Western Alliance Bancorporation has an average rating of “Buy” and a consensus target price of $57.83.
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In related news, Chairman Robert Gary Sarver sold 100,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $48.37, for a total transaction of $4,837,000.00. Following the sale, the chairman now owns 54,000 shares of the company’s stock, valued at $2,611,980. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.95% of the stock is currently owned by corporate insiders.
About Western Alliance Bancorporation
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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