Western Alliance Bancorporation (NYSE:WAL) Chairman Sells $1,868,777.25 in Stock

Western Alliance Bancorporation (NYSE:WAL) Chairman Robert Gary Sarver sold 33,105 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $56.45, for a total value of $1,868,777.25. Following the sale, the chairman now directly owns 54,879 shares of the company’s stock, valued at $3,097,919.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of WAL stock traded up $0.49 on Tuesday, reaching $56.97. The company had a trading volume of 573,271 shares, compared to its average volume of 730,904. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.80 billion, a PE ratio of 11.77, a PEG ratio of 0.77 and a beta of 1.69. The company has a 50-day moving average of $56.95 and a 200-day moving average of $49.60. Western Alliance Bancorporation has a 12 month low of $38.55 and a 12 month high of $58.94.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. The company had revenue of $287.50 million during the quarter, compared to analysts’ expectations of $289.11 million. Western Alliance Bancorporation had a return on equity of 17.63% and a net margin of 38.69%. Western Alliance Bancorporation’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 4.97 earnings per share for the current year.

Several brokerages have weighed in on WAL. Citigroup set a $58.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Jaffray Companies set a $62.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Monday, October 21st. Zacks Investment Research reissued a “buy” rating and set a $64.00 price objective on shares of Western Alliance Bancorporation in a report on Saturday, January 11th. Stephens set a $55.00 price objective on Western Alliance Bancorporation and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, DA Davidson reissued a “buy” rating on shares of Western Alliance Bancorporation in a report on Monday. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $58.83.

Hedge funds have recently made changes to their positions in the company. Liberty Wealth Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. increased its stake in shares of Western Alliance Bancorporation by 415.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,371 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,105 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Western Alliance Bancorporation by 34.5% in the 4th quarter. IFP Advisors Inc now owns 1,899 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 487 shares during the last quarter. Arden Trust Co bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $203,000. Finally, CWM LLC increased its stake in shares of Western Alliance Bancorporation by 15.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 575 shares during the last quarter. 80.45% of the stock is owned by institutional investors.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

Featured Article: What is quantitative easing?

Insider Buying and Selling by Quarter for Western Alliance Bancorporation (NYSE:WAL)

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.