The stock of Western Alliance Bancorporation (NYSE:WAL) is a huge mover today! About 289,355 shares traded hands. Western Alliance Bancorporation (NYSE:WAL) has risen 27.96% since April 28, 2016 and is uptrending. It has outperformed by 22.04% the S&P500.
The move comes after 9 months positive chart setup for the $5.13B company. It was reported on Dec, 1 by Barchart.com. We have $52.10 PT which if reached, will make NYSE:WAL worth $461.70 million more.
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 $72.98 million for 17.57 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 of Western Alliance Bancorporation (NYSE:WAL) has “Outperform” rating given on Monday, October 19 by Macquarie Research. The stock of Western Alliance Bancorporation (NYSE:WAL) earned “Buy” rating by DA Davidson on Thursday, February 11. FIG Partners upgraded the shares of WAL in a report on Tuesday, September 8 to “Outperform” rating. The stock of Western Alliance Bancorporation (NYSE:WAL) has “Outperform” rating given on Thursday, November 10 by RBC Capital Markets. The stock of Western Alliance Bancorporation (NYSE:WAL) earned “Outperform” rating by Wood on Wednesday, March 30. The firm earned “Market Perform” rating on Thursday, September 1 by Wells Fargo. 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 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.
State Common Retirement Fund holds 360,467 shares or 0.02% of its portfolio. Tower Research Cap Ltd Com (Trc) has 0.01% invested in the company for 3,455 shares. Alps Advsr Inc holds 0% or 12,728 shares in its portfolio. Moreover, Seven Eight Capital Ltd Llc has 0.15% invested in Western Alliance Bancorporation (NYSE:WAL) for 13,500 shares. Checchi Cap Advisers Limited Com has 0% invested in the company for 831 shares. Principal Finance owns 17,982 shares or 0% of their US portfolio. Pier Cap Limited Liability Corporation has invested 0.99% of its portfolio in Western Alliance Bancorporation (NYSE:WAL). Moreover, Nicholas Invest Limited Partnership has 0.26% invested in Western Alliance Bancorporation (NYSE:WAL) for 114,115 shares. Hennessy Advisors owns 110,000 shares or 0.11% of their US portfolio. Mckinley Capital Ltd Liability Delaware last reported 0.76% of its portfolio in the stock. The New York-based Renaissance Technologies Limited Liability Corp has invested 0.01% in Western Alliance Bancorporation (NYSE:WAL). Morgan Stanley has 0% invested in the company for 271,806 shares. Marshall Wace Limited Liability Partnership has 0% invested in the company for 16,000 shares. The Florida-based Raymond James And Assoc has invested 0% in Western Alliance Bancorporation (NYSE:WAL). Dupont Capital Management Corp holds 12,024 shares or 0.01% of its portfolio.
Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 34 sales for $43.03 million net activity. The insider SANDE JOHN III sold $601,274. Shares for $180,072 were sold by CADY GERALD A. Shares for $442,500 were sold by NAVE JAMES E D V M. Sarver Robert Gary also sold $2.29M worth of Western Alliance Bancorporation (NYSE:WAL) shares. GIBBONS DALE sold $356,000 worth of stock. JOHNSON MARIANNE BOYD had sold 4,500 shares worth $170,550 on Tuesday, August 30. On Wednesday, August 31 the insider BOYD WILLIAM S sold $171,000.
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, Seekingalpha.com published: “Western Alliance Bancorporation’s (WAL) CEO Robert Sarver on Q3 2016 Results …” on October 24, 2016. More interesting news about Western Alliance Bancorporation (NYSE:WAL) were released by: Businesswire.com and their article: “Western Alliance Bancorporation Announces Second Quarter 2016 Earnings Release …” published on July 08, 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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