Western Alliance Bancorporation (WAL) EVP Robert Reoch Mcauslan Sells 4,000 Shares of Stock

Western Alliance Bancorporation (NYSE:WAL) EVP Robert Reoch Mcauslan sold 4,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $56.49, for a total transaction of $225,960.00. Following the completion of the transaction, the executive vice president now owns 23,200 shares of the company’s stock, valued at approximately $1,310,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Western Alliance Bancorporation (NYSE:WAL) opened at 55.80 on Wednesday. Western Alliance Bancorporation has a 12 month low of $36.30 and a 12 month high of $56.67. The company has a 50-day moving average of $52.41 and a 200-day moving average of $49.27. The stock has a market capitalization of $5.81 billion, a PE ratio of 20.15 and a beta of 1.75.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $211.50 million during the quarter, compared to analyst estimates of $212.27 million. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.71%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS. On average, equities research analysts expect that Western Alliance Bancorporation will post $3.08 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winfield Associates Inc. boosted its holdings in shares of Western Alliance Bancorporation by 0.6% in the 2nd quarter. Winfield Associates Inc. now owns 3,420 shares of the financial services provider’s stock valued at $168,000 after buying an additional 20 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,257 shares of the financial services provider’s stock valued at $455,000 after buying an additional 24 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the 2nd quarter. ProShare Advisors LLC now owns 16,516 shares of the financial services provider’s stock valued at $813,000 after buying an additional 48 shares during the period. First Interstate Bank boosted its holdings in shares of Western Alliance Bancorporation by 2.5% in the 2nd quarter. First Interstate Bank now owns 6,065 shares of the financial services provider’s stock valued at $298,000 after buying an additional 150 shares during the period. Finally, Renaissance Group LLC boosted its holdings in shares of Western Alliance Bancorporation by 2.0% in the 2nd quarter. Renaissance Group LLC now owns 7,688 shares of the financial services provider’s stock valued at $378,000 after buying an additional 150 shares during the period. 81.55% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on WAL shares. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Tuesday, September 5th. DA Davidson reiterated a “buy” rating and set a $64.00 target price on shares of Western Alliance Bancorporation in a research note on Monday, October 23rd. BidaskClub downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $58.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, September 8th. Finally, Barclays PLC reiterated an “overweight” rating and set a $59.00 target price (up previously from $58.00) on shares of Western Alliance Bancorporation in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $62.06.

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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