Western Alliance Bancorporation (NYSE:WAL) saw a downside of -2.65% to close Tuesday at $47.07 after subtracting -$1.28 on the day. The 5-day average trading volume is 1,794,840 shares of the company’s common stock. It has gained $49.31 in the past week and touched a new high 2 times within the past 5 days. An average of 1,937,575 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,642,360.
WAL’s 1-month performance is -5.60% or -$1.27 on its low of $46.19 reached on 08/22/23. The company’s shares have touched a 52-week low of $7.46 and high of $83.36, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, WAL has lost -20.97% or -$12.49 and has reached a new high 16 times. However, the current price is down -43.53% from the 52-week high price.
Insider Transactions
WAL stock investors last saw insider trading activity on Mar 13.Bruckner Tim R (CBO for Regional Banking) most recently sold 1,750 shares at $73.16 per share on Feb 21. This transaction cost the insider $128,030. Chief Accounting Officer, Ardrey J. Kelly Jr., sold 3,000 shares at a price of $80.59 on Feb 02. Then, on Sep 12, Director SNYDER DONALD D sold 4,500 shares at a price of $78.36 per share. This transaction amounted to $352,620.
Valuation Metrics
WAL stock has a beta of 1.42. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.42 while the price-to-book (PB) in the most recent quarter is 0.95, with the price to cash flow ratio at 4.94.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.31, while the total debt to equity was 0.31. The firm’s gross profit as reported stood at $2.22 billion against revenue of $2.69 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected WAL to announce $1.98 per share in earnings in its latest quarter, but it posted $1.96, representing a -1.00% surprise. Shareholders hold equity totaling $109.5 million.
Let’s look briefly at Western Alliance Bancorporation (WAL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 36.97% to suggest the stock is trending Neutral, with historical volatility in this time period at 27.68%.
The stock’s 5-day moving average is $47.88, reflecting a -3.74% or -$1.83 change from its current price. WAL is currently trading -0.25% above its 20-day SMA, +30.50% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +20.66% and SMA200 by-27.19%.
Stochastic %K and %D was 20.13% and 17.24% and the average true range (ATR) pointed at 2.04. The RSI (14) points at 46.44%, while the 14-day stochastic is at 11.46% with the period’s ATR at 2.12. The stock’s 9-day MACD Oscillator is pointing at -1.31 and -2.40 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Western Alliance Bancorporation (NYSE: WAL), Deutsche Bank launched coverage with a Hold rating. Analysts offering their rating for WAL stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate WAL as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 14 have offered a “buy” rating.
What is WAL’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $39.40 and a high of $70.00, with their median price target at $60.00. Looking at these predictions, the average price target given by analysts is for Western Alliance Bancorporation (WAL) stock is $58.84.
