Today: The Insider Selling: Western Alliance Bancorp (WAL) Director Sold $1,804,000.00 in Stock

The Insider Selling: Western Alliance Bancorp (WAL) Director Sold $1,804,000.00 in Stock

Western Alliance Bancorp (NYSE:WAL) Director William S. Boyd sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $45.10, for a total value of $1,804,000.00. Following the completion of the transaction, the director now owns 9,500 shares of the company’s stock, valued at approximately $428,450. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Western Alliance Bancorp (NYSE:WAL) opened at 45.80 on Monday. The stock has a market capitalization of $4.75 billion, a PE ratio of 18.97 and a beta of 1.62. The company’s 50 day moving average price is $39.85 and its 200-day moving average price is $36.59. Western Alliance Bancorp has a one year low of $26.60 and a one year high of $46.44.

Western Alliance Bancorp (NYSE:WAL) last posted its quarterly earnings data on Monday, October 24th. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Western Alliance Bancorp had a return on equity of 14.64% and a net margin of 35.19%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts expect that Western Alliance Bancorp will post $2.50 earnings per share for the current year.

WAL has been the subject of several analyst reports. Zacks Investment Research downgraded Western Alliance Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Wells Fargo & Co. initiated coverage on Western Alliance Bancorp in a research note on Thursday, September 1st. They issued a “market perform” rating for the company. Jefferies Group restated a “buy” rating and issued a $42.00 target price on shares of Western Alliance Bancorp in a research note on Tuesday, September 13th. Royal Bank Of Canada raised their price target on Western Alliance Bancorp from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, November 10th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $46.00 price target (up previously from $42.00) on shares of Western Alliance Bancorp in a report on Thursday, November 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $42.42.

Hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. boosted its stake in Western Alliance Bancorp by 3.2% in the second quarter. Eagle Asset Management Inc. now owns 106,970 shares of the financial services provider’s stock worth $3,492,000 after buying an additional 3,328 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in Western Alliance Bancorp by 35.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 607,690 shares of the financial services provider’s stock worth $19,841,000 after buying an additional 159,195 shares during the period. First Republic Investment Management Inc. boosted its stake in Western Alliance Bancorp by 96.0% in the first quarter. First Republic Investment Management Inc. now owns 65,925 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 32,284 shares during the period. Rafferty Asset Management LLC purchased a new stake in Western Alliance Bancorp during the second quarter worth approximately $345,000. Finally, LMR Partners LLP purchased a new stake in Western Alliance Bancorp during the second quarter worth approximately $1,833,000. Institutional investors own 80.65% of the company’s stock.

About Western Alliance Bancorp

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