Western Alliance Bancorporation (WAL) Earning Somewhat Positive News Coverage, Analysis Shows

News stories about Western Alliance Bancorporation (NYSE:WAL) have trended somewhat positive on Saturday, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by monitoring more than 20 million news and blog 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 news sentiment score of 0.19 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.2000257585766 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Several equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, October 12th. Barclays set a $65.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research report on Monday, October 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $58.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, September 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $65.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $62.06.

Shares of Western Alliance Bancorporation (NYSE WAL) traded down $0.62 on Friday, reaching $56.62. 271,124 shares of the company were exchanged, compared to its average volume of 538,816. Western Alliance Bancorporation has a 52-week low of $44.64 and a 52-week high of $60.25. The stock has a market capitalization of $5,970.00, a PE ratio of 19.39, a PEG ratio of 1.64 and a beta of 1.76. The company has a current ratio of 0.89, a quick 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The firm had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $212.27 million. During the same period in the previous year, the company earned $0.66 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 15.4% compared to the same quarter last year. analysts anticipate that Western Alliance Bancorporation will post 3.07 earnings per share for the current fiscal year.

In related news, EVP Robert Reoch Mcauslan sold 3,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $56.36, for a total value of $169,080.00. Following the completion of the sale, the executive vice president now directly owns 20,200 shares of the company’s stock, valued at $1,138,472. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Marianne Boyd Johnson sold 4,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the completion of the sale, the director now directly owns 3,295 shares of the company’s stock, valued at $179,313.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,000 shares of company stock valued at $9,780,670. 7.95% of the stock is owned by corporate insiders.

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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.

Insider Buying and Selling by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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