According to Bloomberg, all ten brokerages following Western Alliance Bancorporation (NYSE: WAL) have given the company a rating of “Hold” as their overall recommendation for the stock.
This rating represents the brokerages’ consensus view on the stock. Various financial analysts have given the share three distinct ratings: a recommendation to sell it has been given by one of them, a recommendation to keep it has been given by two of them, and a recommendation to purchase it has been given by one of them.
Most brokerage firms that covered the stock in the previous year set a price target of $86.75 as their price objective over the next year.
In recent times, the company has had written opinions from several equity specialists who have provided their services. On October 24, Wells Fargo & Company released a research note focused on Western Alliance Bancorporation as the subject of their investigation.
The company was rated “overweight,” and the note reduced the price target from $115.00 to $90.00. Wedbush rated the company as “neutral” and lowered their price objective on Western Alliance Bancorporation from $80.00 to $70.00 in a report released on Monday, October 24. Stephens revealed to the public on January 26 that they had increased their price objective for Western Alliance Bancorporation from $80.00 to $86.00 in a report that was made public that same day. On Thursday, TheStreet raised their rating for Western Alliance Bancorporation from “c+” to “b,” reflecting an improvement in the company’s overall strength.
The price target that Truist Financial has set for Western Alliance Bancorporation dropped from $95.00 to $86.00 in a report released on October 24.
The holdings of WAL that are owned by a variety of hedge funds and institutional investors have recently been modified as a result of these changes.
The amount of Western Alliance Bancorporation stock that Assenagon Asset Management S.A. owned as of the end of the third quarter increased by 5,575.5%.
Assenagon Asset Management S.A. now has 1,071,017 shares held by the financial services provider, with a value of $63,790,000.
This was achieved after acquiring an additional 1,052,146 shares throughout the most recent time frame.
The value of Wellington Management Group LLP’s interests in Western Alliance Bancorporation increased by 21.5% over the first three months of 2018. Following the acquisition of an additional 880,430 shares during the most recent quarter, Wellington Management Group LLP now possesses a total of 4,971,314 stock held by the financial services provider.
These shares have a combined value of $411,724,000 after Wellington Management Group LLP purchases the additional shares.
Price T. Rowe Associates INC (M.D.), over the second quarter, brought the total amount of Western Alliance Bancorporation stock that it owned to a level that was 5.9% higher than before.
Price T. Rowe Associates INC (M.D.) now owns 14,481,293 shares of the financial services provider’s stock after purchasing an additional 808,692 shares during the most recent quarter.
These shares have an estimated market value of $1,022,379,000.
During the second quarter, Western Alliance Bancorporation achieved an 18.8% increase in the percentage of ownership it holds in Clearbridge Investments LLC Clearbridge Investments LLC now holds a total of 3,207,019 shares of the financial services provider’s stock, which are currently valued at $226,416,000 following the acquisition of an additional 506,706 shares during the most recent quarter. Clearbridge Investments LLC’s stock holdings were previously valued at $226,414,000.
And finally, during the first three months of this year, Vanguard Group INC increased the amount of Western Alliance Bancorporation stock that is owned by 3.9%, bringing the total amount of stock that it owned to a total of 45%.
In the most recent fiscal quarter, Vanguard Group INC purchased 347,525 additional shares, bringing the total number of shares it owns in the financial services provider’s company to 9,361,098.
The total value of these shares comes to 775,286,000 dollars. Hedge funds and other types of institutional investors own a total of 84.68% of the company’s shares.
The closing price of the NYSE WAL on Friday was $78.33, which reflects a loss of $2.27 from earlier in the day.
There were a total of 1,095,594 shares traded by the company, which is significantly higher than the typical volume of the company, which is 1,067,968 shares.
The price of the company’s stock is currently trading at a moving average of $63.73 over the past fifty days, and the stock’s moving average over the past 200 days is $69.51.
A price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 0.71, and a beta value of 1.43 are all characteristics of the stock in question.
The company’s total value, as measured by its market capitalization, is $8.53 billion.
There is a ratio of 1 for the current ratio, 0 for the quick ratio, and 0.96 for the quick ratio.
Both the debt-to-equity ratio, which is 1.53, and the current ratio, which is 1, are very high.
During the previous 52 weeks, the price of Western Alliance Bancorporation had a range that went from a low of $54.86 to a high of $102.97.
On January 25, Western Alliance Bancorporation (NYSE: WAL) released its most recent quarterly earnings report.
The report was for the fiscal quarter ending in December.
The company that provides financial services reported earnings of $2.67 per share for the quarter, which was in line with what analysts had anticipated for the company’s earnings. Western Alliance Bancorporation had a return on equity of 22.42% and a net margin of 34.94% for the company overall.
The revenue generated during the quarter was anticipated to be anywhere from $733.13 million to $701.20 million, according to the estimates provided by analysts.
The company reported earnings of $2.32 per share during the corresponding period in the prior year’s financial results. Compared to the same quarter from the previous year, the increase in revenue for the quarter was 25.0% higher than the previous year’s total.
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