Market Runner: A Reversal for Western Alliance Bancorporation Is Not Near. The Stock Reaches 52-Week High Today

Market Runner: A Reversal for Western Alliance Bancorporation Is Not Near. The Stock Reaches 52 Week High Today

The stock of Western Alliance Bancorporation (NYSE:WAL) hit a new 52-week high and has $49.47 target or 8.00% above today’s $45.81 share price. The 6 months bullish chart indicates low risk for the $4.91B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $49.47 price target is reached, the company will be worth $392.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 526,242 shares traded hands. Western Alliance Bancorporation (NYSE:WAL) has risen 24.34% since April 21, 2016 and is uptrending. It has outperformed by 19.01% the S&P500.

Analysts await Western Alliance Bancorporation (NYSE:WAL) to report earnings on January, 19. They expect $0.68 earnings per share, up 19.30% or $0.11 from last year’s $0.57 per share. WAL’s profit will be $72.88M for 16.84 P/E if the $0.68 EPS becomes a reality. After $0.66 actual earnings per share reported by Western Alliance Bancorporation for the previous quarter, Wall Street now forecasts 3.03% EPS growth.

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. The firm has “Outperform” rating given on Thursday, November 10 by RBC Capital Markets. The firm has “Market Perform” rating given on Thursday, September 1 by Wells Fargo. The stock of Western Alliance Bancorporation (NYSE:WAL) has “Outperform” rating given on Wednesday, March 30 by Wood. The firm earned “Outperform” rating on Tuesday, September 8 by FIG Partners. Macquarie Research maintained the shares of WAL in a report on Monday, October 19 with “Outperform” rating. DA Davidson upgraded it to “Buy” rating and $37 target price in Thursday, February 11 report. The stock of Western Alliance Bancorporation (NYSE:WAL) earned “Overweight” rating by Piper Jaffray on Tuesday, October 13.

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 0.92 in 2016 Q2. Its down 0.28, from 1.2 in 2016Q1. The ratio turned negative, 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.
The Colorado-based Advsrs Asset has invested 0% in Western Alliance Bancorporation (NYSE:WAL). Tci Wealth Advsrs holds 5,191 shares or 0.09% of its portfolio. Tower Rech Lc (Trc) accumulated 0.01% or 3,455 shares. Fifth Third Commercial Bank last reported 3,277 shares in the company. Monarch Prtnrs Asset Management Lc owns 209,305 shares or 0.69% of their US portfolio. Highbridge Capital Mngmt Limited Liability Com accumulated 0.11% or 204,519 shares. Rafferty Asset Mgmt Limited Liability Company accumulated 10,557 shares or 0.02% of the stock. State Street accumulated 2.40M shares or 0.01% of the stock. Brown Brothers Harriman has invested 0.04% of its portfolio in Western Alliance Bancorporation (NYSE:WAL). Pnc Fincl Svcs Grp Inc, a Pennsylvania-based fund reported 2,377 shares. Cornercap Counsel owns 13,455 shares or 0.08% of their US portfolio. Swiss National Bank & Trust reported 154,700 shares or 0.01% of all its holdings. Moreover, Apriem Advisors has 0% invested in Western Alliance Bancorporation (NYSE:WAL) for 250 shares. Moreover, Nicholas Partners Limited Partnership has 0.26% invested in Western Alliance Bancorporation (NYSE:WAL) for 114,115 shares. State Of Wisconsin Inv Board has 0.1% invested in the company for 792,755 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 29 sales for $31.75 million net activity. Another trade for 3,000 shares valued at $112,170 was sold by MCAUSLAN ROBERT REOCH. Shares for $460,830 were sold by LUNDY JAMES HARWOOD III on Tuesday, May 24. $540,000 worth of Western Alliance Bancorporation (NYSE:WAL) was sold by Myers Daniel P on Tuesday, August 16. The insider NAGY M NAFEES sold 27,700 shares worth $1.05M. Taylor Patricia A sold $147,996 worth of stock or 3,382 shares. On Tuesday, August 30 the insider JOHNSON MARIANNE BOYD sold $170,550. Sarver Robert Gary had sold 150,000 shares worth $6.59M.

More important 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 published article titled: “Western Alliance Bancorporation Announces Fourth Quarter 2015 Earnings Release …”, 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) was released by: Businesswire.com and their article: “Western Alliance Bancorporation to Acquire GE Capital’s US Hotel Franchise …” with publication date: March 29, 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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