Weiss Ratings Reiterates Buy (B-) Rating for Western Alliance Bancorporation (NYSE:WAL)

Key Points

• Weiss Ratings reaffirmed a "buy (B-)" rating for Western Alliance Bancorporation (NYSE:WAL), indicating strong confidence in the stock's performance.
• Despite a recent decline of 3.9% in share price, analysts maintain a consensus rating of "Moderate Buy" with an average target price of $102.14.
• Insider trading shows Tim R. Bruckner selling 2,500 shares, reflecting a 9.17% decrease in ownership, raising concerns about insider sentiment.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

WAL has been the topic of a number of other research reports. Cowen assumed coverage on Western Alliance Bancorporation in a report on Wednesday, September 24th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. DA Davidson raised their price target on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 21st. Industrial Alliance Securities set a $112.00 price objective on shares of Western Alliance Bancorporation in a report on Wednesday. Finally, Citigroup reissued a "neutral" rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Western Alliance Bancorporation Stock Down 3.9%

Shares of WAL traded down $3.32 during trading hours on Wednesday, hitting $82.68. The company had a trading volume of 2,062,590 shares, compared to its average volume of 1,107,307. The company has a market capitalization of $9.13 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.60 and a beta of 1.35. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The company's fifty day moving average price is $85.73 and its two-hundred day moving average price is $78.47.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.03. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.The business had revenue of $836.21 million during the quarter, compared to analysts' expectations of $838.58 million. During the same quarter in the prior year, the firm earned $1.75 earnings per share. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares of the company's stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. HWG Holdings LP purchased a new stake in Western Alliance Bancorporation during the 1st quarter valued at $25,000. Tsfg LLC acquired a new position in Western Alliance Bancorporation during the first quarter worth $33,000. Hantz Financial Services Inc. raised its position in Western Alliance Bancorporation by 995.8% in the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 478 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Western Alliance Bancorporation by 241.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 713 shares of the financial services provider's stock valued at $56,000 after buying an additional 504 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Western Alliance Bancorporation during the 1st quarter worth about $58,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.

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