Western Alliance Bancorp [NYSE: WAL] surged by $3.56 during the normal trading session on while it closed the day at $88.41.
Western Alliance Bancorp stock has also gained 12.55% of its value over the past 7 days. However, WAL stock has inclined by 48.14% in the 3 months of the year. Over the past six months meanwhile, it has gained 43.41% and gained 34.38% year-on date.
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The market cap for WAL stock reached $9.73 billion, with 109.47 million shares outstanding and 108.41 million shares in the current float. Compared to the average trading volume of 1.17M shares, WAL reached a trading volume of 2976867 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 Bancorp [WAL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WAL shares is $89.18 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 1.29. 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.
Hovde Group have made an estimate for Western Alliance Bancorp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 22, 2024. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on March 08, 2024, representing the official price target for Western Alliance Bancorp stock. Previously, the target price had yet another raise from $62 to $72, while Wells Fargo kept a Equal Weight rating on WAL stock.
The Average True Range (ATR) for Western Alliance Bancorp is set at 2.92, with the Price to Sales ratio for WAL stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 1.61. Price to Free Cash Flow for WAL in the course of the last twelve months was 58.28.
WAL stock trade performance evaluation
Western Alliance Bancorp [WAL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.55. With this latest performance, WAL shares gained by 14.24% in over the last four-week period, additionally plugging by 43.41% over the last 6 months – not to mention a rise of 85.04% 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 72.83, with the RSI for the last a single of trading hit 78.35, and the three-weeks RSI is set at 69.52 for Western Alliance Bancorp [WAL]. The present Moving Average for the last 50 days of trading for this stock 77.67, while it was recorded at 84.15 for the last single week of trading, and 65.23 for the last 200 days.
Western Alliance Bancorp [WAL]: An insightful look at the core fundamentals
Western Alliance Bancorp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.14.
Earnings per share (EPS) analysis for Western Alliance Bancorp [WAL] stock
With the latest financial reports released by the company, Western Alliance Bancorp posted 1.84/share EPS, while the average EPS was predicted by analysts to be reported at 1.91/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.07. 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 Bancorp go to 7.10%.
Western Alliance Bancorp [WAL]: Institutional Ownership
There are presently around $83.33%, or 85.70%% of WAL stock, in the hands of institutional investors. The top three institutional holders of WAL stocks are: VANGUARD GROUP INC with ownership of 10.61 million shares, which is approximately 9.7806%. BLACKROCK INC., holding 5.42 million shares of the stock with an approximate value of $$340.48 million in WAL stocks shares; and BLACKROCK INC., currently with $$321.15 million in WAL stock with ownership which is approximately 4.7117%.
