The stock of Western Alliance Bancorporation (NYSE:WAL) reached all time high today, Nov, 30 and still has $50.37 target or 8.00% above today’s $46.64 share price. This indicates more upside for the $4.99B company. This technical setup was reported by Barchart.com. If the $50.37 PT is reached, the company will be worth $399.20M 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 203,816 shares traded hands. Western Alliance Bancorporation (NYSE:WAL) has risen 23.69% since April 27, 2016 and is uptrending. It has outperformed by 18.47% 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 $72.75M for 17.15 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 stock has “Overweight” rating given by Piper Jaffray on Tuesday, October 13. The stock has “Outperform” rating given by Wood on Wednesday, March 30. The company was upgraded on Tuesday, September 8 by FIG Partners. The rating was maintained by RBC Capital Markets on Thursday, November 10 with “Outperform”. The firm earned “Outperform” rating on Monday, October 19 by Macquarie Research. The stock of Western Alliance Bancorporation (NYSE:WAL) has “Market Perform” rating given on Thursday, September 1 by Wells Fargo. DA Davidson upgraded the shares of WAL in a report on Thursday, February 11 to “Buy” 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 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.
The California-based Menta Capital Ltd Llc has invested 0.05% in Western Alliance Bancorporation (NYSE:WAL). Moreover, Panagora Asset Management has 0.16% invested in Western Alliance Bancorporation (NYSE:WAL) for 1.02M shares. Rs Mgmt Ltd accumulated 907,943 shares or 0.3% of the stock. Checchi Advisers Limited has 831 shares for 0% of their US portfolio. Fsi Ltd Liability Corporation owns 48,630 shares or 0.97% of their US portfolio. New Amsterdam Prtn Limited Liability Corp New York has 0.91% invested in the company for 114,898 shares. Sei Invests Co last reported 0.04% of its portfolio in the stock. Paloma Prtn Co accumulated 159,605 shares or 0.06% of the stock. Kistler last reported 19 shares in the company. Loomis Sayles & Comm Limited Partnership last reported 0.01% of its portfolio in the stock. Ny State Common Retirement Fund, a New York-based fund reported 360,467 shares. Rothschild Asset Management holds 7,652 shares or 0% of its portfolio. Weatherly Asset Mgmt Lp has 16,197 shares for 0.17% of their US portfolio. Affinity Inv Advisors Lc last reported 0.02% of its portfolio in the stock. Monarch Partners Asset Mngmt Limited Liability Company, a Massachusetts-based fund reported 209,305 shares.
Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 34 insider sales for $43.03 million net activity. JOHNSON MARIANNE BOYD sold 104,000 shares worth $4.57M. Another trade for 15,000 shares valued at $540,000 was sold by Myers Daniel P. On Tuesday, November 22 NAGY M NAFEES sold $2.26M worth of the stock or 50,000 shares. LUNDY JAMES HARWOOD III also sold $1.31M worth of Western Alliance Bancorporation (NYSE:WAL) on Monday, November 14. 50,000 shares were sold by Sarver Robert Gary, worth $2.29 million. Shares for $189,308 were sold by Taylor Patricia A on Friday, June 3. Another trade for 130,000 shares valued at $5.59M was sold by MARSHALL TODD.
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: Seekingalpha.com and their article: “Western Alliance Bancorporation’s (WAL) CEO Robert Sarver on Q3 2016 Results …” published on October 24, 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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