Today’s Stock On Watch: Western Alliance Bancorporation Sets All-Time High; Strong Momentum for Holders

Today's Stock On Watch: Western Alliance Bancorporation Sets All Time High; Strong Momentum for Holders

The stock of Western Alliance Bancorporation (NYSE:WAL) reached all time high today, Nov, 23 and still has $49.84 target or 8.00% above today’s $46.15 share price. This indicates more upside for the $4.94 billion company. This technical setup was reported by Barchart.com. If the $49.84 PT is reached, the company will be worth $395.20M 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 200,964 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 EPS, up 19.30% or $0.11 from last year’s $0.57 per share. WAL’s profit will be $72.79M for 16.97 P/E if the $0.68 EPS becomes a reality. After $0.66 actual EPS 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 rating was upgraded by DA Davidson on Thursday, February 11 to “Buy”. The stock of Western Alliance Bancorporation (NYSE:WAL) has “Outperform” rating given on Tuesday, September 8 by FIG Partners. Macquarie Research maintained Western Alliance Bancorporation (NYSE:WAL) rating on Monday, October 19. Macquarie Research has “Outperform” rating and $39 price target. The company was initiated on Thursday, September 1 by Wells Fargo. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, November 10. The stock has “Outperform” rating given by Wood on Wednesday, March 30. The firm has “Overweight” rating given on Tuesday, October 13 by Piper Jaffray.

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 Q2 2016. 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.
Huntington Comml Bank holds 0% or 768 shares in its portfolio. The Connecticut-based Paloma Prtn Mgmt has invested 0.06% in Western Alliance Bancorporation (NYSE:WAL). Bancorporation Of Montreal Can last reported 0% of its portfolio in the stock. First Tru L P accumulated 165,726 shares or 0.02% of the stock. Art Advsr Ltd reported 24,793 shares or 0.04% of all its holdings. Nicholas Investment Prtn L P holds 0.26% of its portfolio in Western Alliance Bancorporation (NYSE:WAL) for 114,115 shares. Johnson Invest Counsel holds 0.01% of its portfolio in Western Alliance Bancorporation (NYSE:WAL) for 12,800 shares. Da Davidson last reported 0% of its portfolio in the stock. Hbk Investments Lp accumulated 36,600 shares or 0.01% of the stock. Dowling & Yahnke Ltd Llc owns 19,599 shares or 0.08% of their US portfolio. Rothschild Asset accumulated 7,652 shares or 0% of the stock. Mesirow Finance Inv Mgmt accumulated 1.37% or 721,709 shares. The California-based Hennessy Advisors Inc has invested 0.11% in Western Alliance Bancorporation (NYSE:WAL). First Interstate Commercial Bank accumulated 0.04% or 5,750 shares. Goldman Sachs Group holds 0.01% or 929,791 shares in its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 29 sales for $31.75 million net activity. $183,900 worth of Western Alliance Bancorporation (NYSE:WAL) was sold by CADY GERALD A on Thursday, August 25. JOHNSON MARIANNE BOYD sold $4.57 million worth of stock. 10,000 shares were sold by FROESCHLE DUANE RALPH, worth $380,000. The insider LUNDY JAMES HARWOOD III sold 29,293 shares worth $1.31M. Shares for $510,000 were sold by SNYDER DONALD D. $6.59M worth of Western Alliance Bancorporation (NYSE:WAL) was sold by Sarver Robert Gary on Thursday, November 10. MCAUSLAN ROBERT REOCH also sold $112,170 worth of Western Alliance Bancorporation (NYSE:WAL) on Wednesday, October 26.

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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