The stock of Western Alliance Bancorporation (NYSE:WAL) decreased by -$2.1 on Tuesday to finish at $48.90, down -4.12 percent. The last five days have seen an average of 1,669,940 shares of common stock traded. 16 times new highs were reached in the current year, with a fall of -$10.66. The average number of shares traded over the last 20 days was 2,710,900, while the average volume over the last 50 days totaled 2,798,998.
WAL stock appreciated 22.77% since last month. On 07/17/23, the company’s shares reached a one-month low of $38.85. The stock touched a high of $86.87 on 02/02/23, after rallying from a low of $7.46 in 52 weeks. The price of WAL stock has declined by -17.90% or -$10.66 this year, reaching a new high 16 times. Still, the stock price is down -43.71% from the 52-week high.
Insider Transactions
WAL stock investors should be aware that Western Alliance Bancorporation (WAL) stock had its last reported insider trading activity 156 days ago on Mar 13. On Mar 13, Director JOHNSON MARIANNE BOYD acquired 2,475 shares at $25.79 each. This transaction resulted in the insider spending $63,830. On Feb 21, Bruckner Tim R sold 1,750 shares at a price of US$73.16. After the transaction, the insider now owns 20,244 shares. Chief Accounting Officer Ardrey J. Kelly Jr. had earlier sold 3,000 shares on Feb 02 for $80.59 a share. The transaction was completed for $241,770.
Valuation Metrics
Western Alliance Bancorporation (WAL) has a trailing price-to-earnings (P/E) ratio of 5.86. Beta for the stock is 1.42. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.47, the price-to-book (PB) ratio of 0.98, and the price-to-cash flow ratio of 5.14.
Company paid $0.36 per share in dividends, remained unchanged from $0.36 last year. A $0.01 dividend increase was reported on Thursday July 28 2022.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.31, and the total debt to equity ratio is 0.31. Western Alliance Bancorporation’s operating margin stood at 64.70% for the same period. Based on annual data, it had gross profit of $2.22 billion and revenue of $2.69 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. WAL’s return on assets (ROA) during the last 12 months has been 1.30%. There was a 26.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 17.70%.
Earnings Surprise
According to Western Alliance Bancorporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Western Alliance Bancorporation’s quarterly earnings would be $1.96, but it ended up being $1.98, beating the consensus by -1.00%. At the end of Western Alliance Bancorporation’s most recent quarter ended June 29, its total debt was $10.66 billion. Equity owned by shareholders amounts to $109.5 million.
Technical Picture
Here’s a quick look at Western Alliance Bancorporation’s (WAL) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 44.44%, suggesting the stock is Neutral, with a 35.04% historical volatility rate.
The stochastic %K and %D were 45.99% and 59.07% respectively, while the average true range (ATR) was 2.27. Based on the 14-day stochastic reading of 20.48%, the RSI (14) reading is 52.52%. On the 9-day MACD Oscillator, the stock is at -0.99, and the 14-day reading is at -0.92.
Analyst Ratings
In its analyst report released on June 28, 2023, Deutsche Bank began covering Western Alliance Bancorporation (NYSE: WAL). The stock was rated as a Hold by the brokerage firm. Analysts have assigned Western Alliance Bancorporation (WAL) an Buy rating. WAL is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 14 others recommend it as a buy.
What is WAL’s price target for the next 12 months?
The current consensus forecast for the stock is between $39.40 and $70.00, with a median target price of $60.00. In analyzing these forecasts, the average price target given by analysts for Western Alliance Bancorporation (WAL) is $58.84.
