What’s Propelling Western Alliance Bancorporation (WAL) to Reach Record High?

March 14, 2018 - By Clifton Ray

Investors sentiment increased to 1.32 in Q3 2017. Its up 0.30, from 1.02 in 2017Q2. It improved, as 20 investors sold Western Alliance Bancorporation shares while 85 reduced holdings. 42 funds opened positions while 97 raised stakes. 84.78 million shares or 0.26% more from 84.56 million shares in 2017Q2 were reported.
Century Incorporated owns 338,314 shares or 0.02% of their US portfolio. Verition Fund Ltd Liability Co, a Connecticut-based fund reported 8,222 shares. Highbridge Ltd Liability holds 0.16% or 203,370 shares. 39,693 are held by Creative Planning. Nuveen Asset Limited Liability has 564,412 shares. The Ohio-based Pub Employees Retirement System Of Ohio has invested 0.02% in Western Alliance Bancorporation (NYSE:WAL). Carlson Cap L P has invested 0.26% in Western Alliance Bancorporation (NYSE:WAL). Jefferies Gp Ltd Liability holds 0.01% or 19,428 shares. Hightower Advsr Ltd Liability, Illinois-based fund reported 55,305 shares. Cadence Mgmt Ltd Company invested in 0.1% or 29,513 shares. Sandler Mngmt owns 0.08% invested in Western Alliance Bancorporation (NYSE:WAL) for 12,000 shares. Goldman Sachs Gru reported 526,643 shares. 8,820 are held by Jane Street Gp Ltd Liability. Boothbay Fund Limited Liability Com has invested 0.05% in Western Alliance Bancorporation (NYSE:WAL). Spectrum Mgmt Gru reported 0% stake.

Since October 23, 2017, it had 1 buy, and 14 insider sales for $15.38 million activity. 7,065 shares were sold by Theisen Randall S, worth $417,824. The insider Sarver Robert Gary sold 100,000 shares worth $5.52M. Guedry John sold $606,436 worth of Western Alliance Bancorporation (NYSE:WAL) on Tuesday, March 6. The insider MCAUSLAN ROBERT REOCH sold $169,080. 10,000 shares were sold by BOYD WILLIAM S, worth $555,462 on Monday, October 23. $1,722 worth of Western Alliance Bancorporation (NYSE:WAL) shares were bought by LATTA ROBERT P.

The stock of Western Alliance Bancorporation (NYSE:WAL) reached all time high today, Mar, 14 and still has $63.68 target or 6.00 % above today’s $60.08 share price. This indicates more upside for the $6.35 billion company. This technical setup was reported by Barchart.com. If the $63.68 PT is reached, the company will be worth $380.94 million 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 decreased 3.17% or $1.97 during the last trading session, reaching $60.08. About 420,865 shares traded. Western Alliance Bancorporation (NYSE:WAL) has risen 29.08% since March 14, 2017 and is uptrending. It has outperformed by 12.38% the S&P500.

Analysts await Western Alliance Bancorporation (NYSE:WAL) to report earnings on April, 19. They expect $0.93 EPS, up 32.86 % or $0.23 from last year’s $0.7 per share. WAL’s profit will be $98.28M for 16.15 P/E if the $0.93 EPS becomes a reality. After $0.85 actual EPS reported by Western Alliance Bancorporation for the previous quarter, Wall Street now forecasts 9.41 % EPS growth.

Western Alliance Bancorporation (NYSE:WAL) Ratings Coverage

Among 13 analysts covering Western Alliance Bancorp (NYSE:WAL), 13 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Western Alliance Bancorp had 49 analyst reports since September 8, 2015 according to SRatingsIntel. The company was maintained on Sunday, August 27 by Jefferies. The company was initiated on Thursday, September 1 by Wells Fargo. On Thursday, February 11 the stock rating was upgraded by DA Davidson to “Buy”. The rating was maintained by Jefferies on Monday, October 23 with “Buy”. The firm has “Buy” rating by SunTrust given on Monday, January 29. Macquarie Research maintained it with “Outperform” rating and $39 target in Monday, October 19 report. The rating was maintained by SunTrust on Tuesday, November 28 with “Buy”. The company was maintained on Thursday, November 10 by RBC Capital Markets. RBC Capital Markets maintained Western Alliance Bancorporation (NYSE:WAL) on Friday, October 20 with “Buy” rating. The stock has “Buy” rating by Jefferies on Monday, July 24.

More news for Western Alliance Bancorporation (NYSE:WAL) were recently published by: Gurufocus.com, which released: “Western Alliance Bancorp (WAL) Files 10-K for the Fiscal Year Ended on …” on February 26, 2018. Bizjournals.com‘s article titled: “Ed Zito to retire after 15 years as president of Alliance Bank” and published on March 14, 2018 is yet another important article.

Western Alliance Bancorporation operates as the holding firm for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company has market cap of $6.35 billion. The firm offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts. It has a 19.38 P/E ratio. It also offers commercial and industrial loan products, such as working capital lines of credit, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans.

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