In a report released yesterday, Jared Shaw from Wells Fargo maintained a Hold rating on Western Alliance (WAL). The company’s shares closed last Monday at $59.04, close to its 52-week high of $61.23.
According to TipRanks.com, Shaw is a 2-star analyst with an average return of 1.0% and a 54.4% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Pinnacle Financial Partners, and People’s United Financial.
Currently, the analyst consensus on Western Alliance is a Strong Buy with an average price target of $57.20.
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Based on Western Alliance’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $300 million and net profit of $136 million. In comparison, last year the company earned revenue of $267 million and had a net profit of $127 million.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WAL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Western Alliance Bancorporation is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services for businesses. It operates through the following business segments: Homeowners Association (HOA) Services; Hotel Franchise Finance (HFF); Public & Nonprofit Finance; Technology and Innovation; Other NBL (National Business Lines); and Corporate and Other. The company was founded in 1995 and is headquartered in Phoenix, AZ.
