Market Analysts see Western Alliance Bancorporation [WAL] gaining to $44. Time to buy?

Western Alliance Bancorporation [NYSE: WAL] plunged by -$0.29 during the normal trading session on Wednesday and reaching a high of $37.93 during the day while it closed the day at $37.06. The company report on October 13, 2020 that Western Alliance Bancorporation Announces Third Quarter 2020 Earnings Release Date, Conference Call and Webcast.

Western Alliance Bancorporation (NYSE: WAL) announced today that it plans to release its third quarter 2020 financial results after the market closes on Thursday, October 22, 2020. Ken Vecchione, President and CEO and Dale Gibbons, Vice Chairman and CFO will host a conference call at 12:00 p.m. ET on Friday, October 23, 2020 to discuss the Company’s performance.

Participants may access the call by dialing 1-888-317-6003 using the pass code 4467607 or via live audio webcast using the website link:

Western Alliance Bancorporation stock has also gained 0.95% of its value over the past 7 days. However, WAL stock has inclined by 1.31% in the 3 months of the year. Over the past six months meanwhile, it has gained 32.93% and lost -34.98% year-on date.

The market cap for WAL stock reached $3.71 billion, with 99.79 million shares outstanding and 97.42 million shares in the current float. Compared to the average trading volume of 609.88K shares, WAL reached a trading volume of 1258518 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Western Alliance Bancorporation [WAL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WAL shares is $41.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WAL stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Western Alliance Bancorporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 17, 2020. The new note on the price target was released on June 02, 2020, representing the official price target for Western Alliance Bancorporation stock. Previously, the target price had yet another raise to $31, while UBS analysts kept a Neutral rating on WAL stock.

The Average True Range (ATR) for Western Alliance Bancorporation is set at 1.23, with the Price to Sales ratio for WAL stock in the period of the last 12 months amounting to 2.95. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 20.23. Price to Free Cash Flow for WAL in the course of the last twelve months was 6.76.

WAL stock trade performance evaluation

Western Alliance Bancorporation [WAL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.95. With this latest performance, WAL shares gained by 8.87% in over the last four-week period, additionally plugging by 32.93% over the last 6 months – not to mention a drop of -19.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WAL stock in for the last two-week period is set at 61.07, with the RSI for the last a single of trading hit 68.20, and the three-weeks RSI is set at 57.46 for Western Alliance Bancorporation [WAL]. The present Moving Average for the last 50 days of trading for this stock 35.41, while it was recorded at 37.38 for the last single week of trading, and 39.30 for the last 200 days.

Western Alliance Bancorporation [WAL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Western Alliance Bancorporation [WAL] shares currently have an operating margin of +47.30. Western Alliance Bancorporation’s Net Margin is presently recorded at +39.21.

Return on Total Capital for WAL is now 17.22, given the latest momentum, and Return on Invested Capital for the company is 15.48. Return on Equity for this stock inclined to 17.73, with Return on Assets sitting at 1.99. When it comes to the capital structure of this company, Western Alliance Bancorporation [WAL] has a Total Debt to Total Equity ratio set at 16.19. Additionally, WAL Total Debt to Total Capital is recorded at 13.93, with Total Debt to Total Assets ending up at 1.82. Long-Term Debt to Equity for the company is recorded at 15.23, with the Long-Term Debt to Total Capital now at 13.10.

Reflecting on the efficiency of the workforce at the company, Western Alliance Bancorporation [WAL] managed to generate an average of $272,028 per employee.

Earnings per share (EPS) analysis for Western Alliance Bancorporation [WAL] stock

With the latest financial reports released by the company, Western Alliance Bancorporation posted 1.24/share EPS, while the average EPS was predicted by analysts to be reported at 1.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WAL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Western Alliance Bancorporation go to 8.00%.

Western Alliance Bancorporation [WAL]: Insider Ownership positions

There are presently around $3,195 million, or 86.80% of WAL stock, in the hands of institutional investors. The top three institutional holders of WAL stocks are: VANGUARD GROUP INC with ownership of 8,238,241, which is approximately -3.336% of the company’s market cap and around 0.40% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 6,992,717 shares of the stock with an approximate value of $261.18 million in WAL stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $255.49 million in WAL stock with ownership of nearly 68.497% of the company’s market capitalization.

Positions in Western Alliance Bancorporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 141 institutional holders increased their position in Western Alliance Bancorporation [NYSE:WAL] by around 10,770,247 shares. Additionally, 179 investors decreased positions by around 9,925,492 shares, while 32 investors held positions by with 64,845,502 shares. The mentioned changes placed institutional holdings at 85,541,241 shares, according to the latest SEC report filing. WAL stock had 34 new institutional investments in for a total of 1,858,070 shares, while 60 institutional investors sold positions of 1,974,695 shares during the same period.

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