The stock of Western Alliance Bancorporation (NYSE:WAL) reached all time high today, Oct, 6 and still has $62.46 target or 60.00% above today’s $39.04 share price. This indicates more upside for the $4.21B company. This technical setup was reported by Barchart.com. If the $62.46 PT is reached, the company will be worth $2.53 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock last traded at $39.04 per share. It is down 21.77% since March 3, 2016 and is uptrending. It has outperformed by 13.43% the S&P500.
Analysts await Western Alliance Bancorporation (NYSE:WAL) to report earnings on October, 20. They expect $0.65 earnings per share, up 22.64% or $0.12 from last year’s $0.53 per share. WAL’s profit will be $70.09 million for 15.02 P/E if the $0.65 EPS becomes a reality. After $0.62 actual earnings per share reported by Western Alliance Bancorporation for the previous quarter, Wall Street now forecasts 4.84% EPS growth.
Western Alliance Bancorporation (NYSE:WAL) Ratings Coverage
Out of 7 analysts covering Western Alliance Bancorp (NYSE:WAL), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. Western Alliance Bancorp has been the topic of 9 analyst reports since September 8, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, September 1 by Wells Fargo. The rating was upgraded by Wood to “Outperform” on Wednesday, March 30. Piper Jaffray initiated Western Alliance Bancorporation (NYSE:WAL) on Tuesday, October 13 with “Overweight” rating. The rating was maintained by Macquarie Research on Monday, October 19 with “Outperform”. As per Thursday, February 11, the company rating was upgraded by DA Davidson. FIG Partners upgraded the shares of WAL in a report on Tuesday, September 8 to “Outperform” rating.
According to Zacks Investment Research, “Western Alliance Bancorporation is the parent company of BankWest of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Miller/Russell & Associates, and Premier Trust. These dynamic companies provide a broad array of banking, leasing, trust, investment, and mortgage services to clients in Nevada, Arizona and California. Staffed with experienced financial professionals, these organizations deliver a broader product array and larger credit capacity than community banks, yet are empowered to be more responsive to customers’ needs than larger institutions.”
Insitutional Activity: The institutional sentiment decreased to 1.2 in Q2 2016. Its down 0.23, from 1.43 in 2016Q1. The ratio fall, as 22 funds sold all Western Alliance Bancorporation shares owned while 86 reduced positions. 47 funds bought stakes while 83 increased positions. They now own 81.37 million shares or 1.61% less from 82.70 million shares in 2016Q1.
Citadel Advsr Limited Liability accumulated 0% or 59,140 shares. Nomura Holdings owns 7,622 shares or 0% of their US portfolio. Balyasny Asset Mgmt Ltd Liability has 393,528 shares for 0.08% of their US portfolio. Aperio Group Inc Ltd owns 10,589 shares or 0% of their US portfolio. Moreover, Suntrust Banks has 0.02% invested in Western Alliance Bancorporation (NYSE:WAL) for 84,789 shares. Moreover, Rainier Invest Mngmt Limited Liability Company has 0.82% invested in Western Alliance Bancorporation (NYSE:WAL) for 520,790 shares. Tiaa Cref Mngmt Ltd Liability has 350,410 shares for 0.01% of their US portfolio. Tower Research Limited (Trc) accumulated 3,455 shares or 0.01% of the stock. The New York-based Clearbridge Invests Limited Co has invested 0.12% in Western Alliance Bancorporation (NYSE:WAL). Hennessy Advsr last reported 110,000 shares in the company. Highbridge Management Ltd Company has 204,519 shares for 0.11% of their US portfolio. Creative Planning owns 25 shares or 0% of their US portfolio. Princeton Alpha Mgmt Limited Partnership has 59,625 shares for 0.35% of their US portfolio. Babson Management Ltd Llc, a Massachusetts-based fund reported 21,800 shares. Panagora Asset Management has invested 0.16% of its portfolio in Western Alliance Bancorporation (NYSE:WAL).
Insider Transactions: Since April 25, 2016, the stock had 0 insider buys, and 25 selling transactions for $16.73 million net activity. $171,000 worth of Western Alliance Bancorporation (NYSE:WAL) was sold by BOYD WILLIAM S on Wednesday, August 31. $3.66 million worth of Western Alliance Bancorporation (NYSE:WAL) was sold by NAGY M NAFEES on Tuesday, May 24. BEACH BRUCE D sold 5,000 shares worth $184,400. The insider JOHNSON MARIANNE BOYD sold 4,500 shares worth $170,550. 15,000 shares with value of $548,054 were sold by SNYDER DONALD D on Monday, April 25. $357,682 worth of Western Alliance Bancorporation (NYSE:WAL) shares were sold by FROESCHLE DUANE RALPH. 35,000 Western Alliance Bancorporation (NYSE:WAL) shares with value of $1.30M were sold by MARSHALL TODD.
More notable recent Western Alliance Bancorporation (NYSE:WAL) news were published by: Businesswire.com which released: “Western Alliance Bancorporation Announces Fourth Quarter 2015 Earnings Release …” on January 06, 2016, also Businesswire.com with their article: “Western Alliance Bancorporation to Acquire GE Capital’s US Hotel Franchise …” published on March 29, 2016, Businesswire.com published: “Western Alliance Bancorporation and Bridge Capital Holdings Complete Merger” on July 01, 2015. More interesting news about Western Alliance Bancorporation (NYSE:WAL) were released by: Businesswire.com and their article: “Western Alliance Bancorporation Announces Second Quarter 2016 Earnings Release …” published on July 08, 2016 as well as Seekingalpha.com‘s news article titled: “Western Alliance Bancorporation’s (WAL) Management on Q2 2016 Results …” with publication date: July 22, 2016.
WAL Company Profile
Western Alliance Bancorporation, incorporated on May 29, 2014, is a bank holding company. The Firm provides a range of deposits, lending, treasury management and online banking services and products through its banking subsidiary, Western Alliance Bank (the Bank). The Company’s divisions are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL), and Corporate & Other. The Company’s Arizona, Nevada, Southern California and Northern California divisions provide full-service banking and related services to their respective markets. The Company’s CBL segment provides banking services to niche markets and includes the activities of Bridge Bank.
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