Stock Mover of the Day: Could Western Alliance Bancorporation Go Down After Achieving Record High?

Stock Mover of the Day: Could Western Alliance Bancorporation Go Down After Achieving Record High?

The stock of Western Alliance Bancorporation (NYSE:WAL) reached all time high today, Nov, 10 and still has $60.98 target or 48.00% above today’s $41.20 share price. This indicates more upside for the $4.60B company. This technical setup was reported by Barchart.com. If the $60.98 PT is reached, the company will be worth $2.21 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. About 714,452 shares traded hands or 15.68% up from the average. Western Alliance Bancorporation (NYSE:WAL) has risen 22.03% since April 8, 2016 and is uptrending. It has outperformed by 16.38% the S&P500.

Western Alliance Bancorporation (NYSE:WAL) Ratings Coverage

Out of 8 analysts covering Western Alliance Bancorp (NYSE:WAL), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Western Alliance Bancorp has been the topic of 10 analyst reports since September 8, 2015 according to StockzIntelligence Inc. Wells Fargo initiated the shares of WAL in a report on Thursday, September 1 with “Market Perform” rating. The company was upgraded on Tuesday, September 8 by FIG Partners. The firm has “Outperform” rating by Wood given on Wednesday, March 30. DA Davidson upgraded the stock to “Buy” rating in Thursday, February 11 report. The firm has “Outperform” rating by Macquarie Research given on Monday, October 19. The rating was initiated by Piper Jaffray with “Overweight” on Tuesday, October 13. The firm earned “Outperform” rating on Thursday, November 10 by RBC Capital Markets.

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 2016 Q2. Its down 0.23, from 1.43 in 2016Q1. The ratio dived, 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.
Mckinley Management Lc Delaware accumulated 0.76% or 482,294 shares. Da Davidson And holds 0% or 1,186 shares in its portfolio. Moreover, Allianz Asset Ag has 0.01% invested in Western Alliance Bancorporation (NYSE:WAL) for 639,160 shares. Menta Cap Ltd Liability Com accumulated 11,600 shares or 0.05% of the stock. Metropolitan Life Insur Ny has 5,165 shares for 0% of their US portfolio. Nuveen Asset Management Limited has 308,044 shares for 0.06% of their US portfolio. Rs Mngmt accumulated 907,943 shares or 0.3% of the stock. Blackrock Advsr Limited Co reported 123,457 shares or 0% of all its holdings. Mycio Wealth Prtn Limited Liability Co owns 105 shares or 0% of their US portfolio. Seawolf Cap Ltd Liability Company holds 3.52% of its portfolio in Western Alliance Bancorporation (NYSE:WAL) for 138,000 shares. Tci Wealth owns 5,191 shares or 0.09% of their US portfolio. Raymond James Associate last reported 0% of its portfolio in the stock. Legal And General Gp Pcl owns 7,025 shares or 0% of their US portfolio. Teachers Retirement Of The State Of Kentucky reported 32,881 shares or 0.01% of all its holdings. Moreover, Tfs Capital Ltd has 0.11% invested in Western Alliance Bancorporation (NYSE:WAL) for 18,225 shares.

Insider Transactions: Since May 18, 2016, the stock had 0 insider purchases, and 21 selling transactions for $12.32 million net activity. On Tuesday, August 16 the insider CADY GERALD A sold $180,072. SNYDER DONALD D sold $556,350 worth of stock or 15,000 shares. 10,147 Western Alliance Bancorporation (NYSE:WAL) shares with value of $357,682 were sold by FROESCHLE DUANE RALPH. $73,000 worth of shares were sold by MCAUSLAN ROBERT REOCH on Wednesday, August 24. Shares for $1.05 million were sold by NAGY M NAFEES. MARSHALL TODD also sold $1.30M worth of Western Alliance Bancorporation (NYSE:WAL) shares. LUNDY JAMES HARWOOD III sold $460,830 worth of stock or 12,578 shares.

More notable recent Western Alliance Bancorporation (NYSE:WAL) news were published by: Seekingalpha.com which released: “With Western Alliance Bancorp., ‘Different’ Seems To Mean ‘Better'” on November 09, 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 Announces Second Quarter 2016 Earnings Release …” on July 08, 2016. More interesting news about Western Alliance Bancorporation (NYSE:WAL) were released by: Businesswire.com and their article: “Western Alliance Bancorporation Announces Fourth Quarter 2015 Earnings Release …” published on January 06, 2016 as well as Seekingalpha.com‘s news article titled: “Western Alliance Bancorporation’s (WAL) CEO Robert Sarver on Q3 2016 Results …” with publication date: October 24, 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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