Todays Report: The Western Alliance Bancorp (WAL) Chairman Sold $2,259,500.00 in Stock

The Western Alliance Bancorp (WAL) Chairman Sold $2,259,500.00 in Stock

Western Alliance Bancorp (NYSE:WAL) Chairman Robert Gary Sarver sold 50,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $45.19, for a total value of $2,259,500.00. Following the sale, the chairman now directly owns 1,105,075 shares in the company, valued at approximately $49,938,339.25. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Robert Gary Sarver also recently made the following trade(s): On Monday, November 14th, Robert Gary Sarver sold 150,000 shares of Western Alliance Bancorp stock. The shares were sold at an average price of $43.96, for a total value of $6,594,000.00.

Western Alliance Bancorp (NYSE:WAL) opened at 45.80 on Monday. Western Alliance Bancorp has a 12 month low of $26.60 and a 12 month high of $46.44. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 18.97 and a beta of 1.62. The stock’s 50 day moving average price is $39.85 and its 200 day moving average price is $36.59.

Western Alliance Bancorp (NYSE:WAL) last released its quarterly earnings results on Monday, October 24th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 last year, the firm earned $0.53 earnings per share. Equities research analysts anticipate that Western Alliance Bancorp will post $2.50 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in WAL. TCI Wealth Advisors Inc. raised its stake in Western Alliance Bancorp by 1.3% in the second quarter. TCI Wealth Advisors Inc. now owns 5,191 shares of the financial services provider’s stock valued at $169,000 after buying an additional 66 shares in the last quarter. Rothschild Asset Management Inc. raised its stake in Western Alliance Bancorp by 2.4% in the third quarter. Rothschild Asset Management Inc. now owns 7,837 shares of the financial services provider’s stock valued at $294,000 after buying an additional 185 shares in the last quarter. HighTower Advisors LLC raised its stake in Western Alliance Bancorp by 0.7% in the third quarter. HighTower Advisors LLC now owns 35,489 shares of the financial services provider’s stock valued at $1,333,000 after buying an additional 239 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Western Alliance Bancorp by 12.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,021 shares of the financial services provider’s stock valued at $113,000 after buying an additional 329 shares in the last quarter. Finally, Aperio Group LLC raised its stake in Western Alliance Bancorp by 4.2% in the third quarter. Aperio Group LLC now owns 11,038 shares of the financial services provider’s stock valued at $414,000 after buying an additional 449 shares in the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on WAL. 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. 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. Zacks Investment Research cut Western Alliance Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Western Alliance Bancorp in a report on Tuesday, September 27th. Finally, Wells Fargo & Co. began coverage on Western Alliance Bancorp in a report on Thursday, September 1st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $42.42.

Western Alliance Bancorp Company Profile

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