Western Alliance Bancorporation [WAL] moved down -47.06: Why It’s Important

Western Alliance Bancorporation [NYSE: WAL] plunged by -$23.22 during the normal trading session on Monday and reaching a high of $30.78 during the day while it closed the day at $26.12. The company report on March 13, 2023 that Western Alliance Bank Issues Updated Form 8-K in Light of Recent Industry Developments.

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Western Alliance Bank (NYSE: WAL), in light of recent industry events, filed an updated Form 8-K this morning. Please see the 8-K here, which includes the following statement from Western Alliance Bank President and CEO Kenneth Vecchione:.

“Since the statement we released last week, Western Alliance has taken additional steps to strengthen its liquidity position to ensure that we are in a position to meet all of our client funding needs, including increasing our borrowing capacity. As of this morning, cash reserves exceed $25 billion and are growing, while deposit outflows have been moderate. Including accounts eligible for pass-through insurance, insured deposits exceed 50% of total deposits.”.

Western Alliance Bancorporation stock has also loss -65.35% of its value over the past 7 days. However, WAL stock has declined by -57.19% in the 3 months of the year. Over the past six months meanwhile, it has lost -66.49% and lost -56.15% year-on date.

The market cap for WAL stock reached $3.62 billion, with 107.80 million shares outstanding and 105.84 million shares in the current float. Compared to the average trading volume of 1.37M shares, WAL reached a trading volume of 60117980 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 $87.18 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 1.80. 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.

JP Morgan have made an estimate for Western Alliance Bancorporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 06, 2022. The new note on the price target was released on June 30, 2022, representing the official price target for Western Alliance Bancorporation stock. Previously, the target price had yet another raise to $150, while BofA Securities analysts kept a Buy rating on WAL stock.

The Average True Range (ATR) for Western Alliance Bancorporation is set at 7.56, with the Price to Sales ratio for WAL stock in the period of the last 12 months amounting to 1.34. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 13.65. Price to Free Cash Flow for WAL in the course of the last twelve months was 1.85.

WAL stock trade performance evaluation

Western Alliance Bancorporation [WAL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -65.35. With this latest performance, WAL shares dropped by -65.61% in over the last four-week period, additionally sinking by -66.49% over the last 6 months – not to mention a drop of -69.19% 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 10.60, with the RSI for the last a single of trading hit 5.51, and the three-weeks RSI is set at 16.00 for Western Alliance Bancorporation [WAL]. The present Moving Average for the last 50 days of trading for this stock 69.08, while it was recorded at 56.25 for the last single week of trading, and 70.81 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 +53.59. Western Alliance Bancorporation’s Net Margin is presently recorded at +34.44.

Return on Equity for this stock inclined to 20.49, with Return on Assets sitting at 1.70.

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

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 $2,512 million, or 86.90% of WAL stock, in the hands of institutional investors. The top three institutional holders of WAL stocks are: VANGUARD GROUP INC with ownership of 10,092,749, which is approximately 1.939% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 6,617,466 shares of the stock with an approximate value of $172.85 million in WAL stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $166.15 million in WAL stock with ownership of nearly -27.992% of the company’s market capitalization.

Positions in Western Alliance Bancorporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 205 institutional holders increased their position in Western Alliance Bancorporation [NYSE:WAL] by around 12,114,360 shares. Additionally, 181 investors decreased positions by around 9,414,733 shares, while 52 investors held positions by with 74,657,578 shares. The mentioned changes placed institutional holdings at 96,186,671 shares, according to the latest SEC report filing. WAL stock had 70 new institutional investments in for a total of 4,195,000 shares, while 55 institutional investors sold positions of 1,428,753 shares during the same period.


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