ValuEngine Lowers Western Alliance Bancorporation (WAL) to Hold

ValuEngine cut shares of Western Alliance Bancorporation (NYSE:WAL) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other research firms also recently weighed in on WAL. DA Davidson restated a buy rating and issued a $64.00 target price on shares of Western Alliance Bancorporation in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Western Alliance Bancorporation from a hold rating to a buy rating and set a $54.00 target price on the stock in a report on Tuesday, September 5th. Barclays set a $65.00 target price on shares of Western Alliance Bancorporation and gave the stock a buy rating in a report on Monday, October 23rd. SunTrust Banks boosted their target price on shares of Western Alliance Bancorporation from $59.00 to $62.00 and gave the stock a buy rating in a report on Thursday, October 26th. Finally, Piper Jaffray Companies restated a buy rating and issued a $64.50 target price on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Western Alliance Bancorporation currently has an average rating of Buy and an average target price of $62.06.

Shares of Western Alliance Bancorporation (NYSE:WAL) opened at $58.17 on Friday. The company has a market cap of $6,055.13, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.65 and a beta of 1.76. Western Alliance Bancorporation has a one year low of $44.64 and a one year high of $60.25. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $212.27 million. Western Alliance Bancorporation had a net margin of 39.11% and a return on equity of 15.81%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. equities analysts forecast that Western Alliance Bancorporation will post 3.07 earnings per share for the current year.

In related news, Director Marianne Boyd Johnson sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the transaction, the director now directly owns 3,295 shares in the company, valued at approximately $179,313.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William S. Boyd sold 10,000 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $55.55, for a total transaction of $555,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 173,000 shares of company stock worth $9,611,590 over the last quarter. 7.95% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of WAL. BNP Paribas Arbitrage SA grew its holdings in Western Alliance Bancorporation by 72.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,531 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,060 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Western Alliance Bancorporation by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,490 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 469 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Western Alliance Bancorporation in the 2nd quarter worth about $202,000. Finally, Dearborn Partners LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $205,000. Institutional investors own 81.82% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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