Sunday, June 26, 2022

Checking in on Western Alliance Bancorporation (WAL) after recent insiders movement

Western Alliance Bancorporation’s recent filing unveils that its Vice Chairman and CFO GIBBONS DALE acquired Company’s shares for reported $0.15 million on Jun 10. In the deal valued at $77.22 per share,2,000 shares were bought. As a result of this transaction, GIBBONS DALE now holds 258,365 shares worth roughly $ 18.08 million.


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Then, Ardrey J. Kelly Jr. bought 2,000 shares, generating $147,140 in total proceeds. Upon buying the shares at $73.57, the Chief Accounting Officer now owns 8,090 shares.

Before that, Segedi Bryan K bought 150 shares. Western Alliance Bancorporation shares valued at $11,634 were divested by the Director at a price of $77.56 per share. As a result of the transaction, Segedi Bryan K now holds 150 shares, worth roughly $10495.5.

Meanwhile, BofA Securities initiated its Western Alliance Bancorporation [WAL] rating to a Buy in a research note published on Tuesday, October 18, 2021; the price target was $150. PT values the company’s stock at a premium of 53.35 to its Tuesday closing price. Wells Fargo also remained covering WAL and has increased its forecast on April 19, 2021 with a “an Overweight” recommendation from previously “an Equal weight” rating. UBS revised its rating on January 08, 2021. It rated WAL as “a Buy” which previously was an “a Neutral”.

Price Performance Review of WAL

On Tuesday, Western Alliance Bancorporation [NYSE:WAL] saw its stock jump 0.23% to $69.97. On the same session, the stock had its day’s lowest price of $69.52, but rose to a high of $72.00. Over the last five days, the stock has lost -2.71%. Western Alliance Bancorporation shares have fallen nearly -35.00% since the year began. Nevertheless, the stocks have fallen -25.93% over the past one year. While a 52-week high of $124.93 was reached on 01/12/22, a 52-week low of $68.42 was recorded on 06/16/22. SMA at 50 days reached $76.92, while 200 days put it at $97.06. A total of 0.67 million shares were traded, compared to the trading of 0.76 million shares in the previous session.

Levels Of Support And Resistance For WAL Stock

The 24-hour chart illustrates a support level at 68.99, which if violated will result in even more drops to 68.02. On the upside, there is a resistance level at 71.47. A further resistance level may holdings at 72.98. The Relative Strength Index (RSI) on the 14-day chart is 36.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.74, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.53%. Stochastics %K at 9.75% indicates the stock is a buying.

Western Alliance Bancorporation [WAL] – Who Are The Largest Shareholders?

In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 13,672,601 shares, or roughly 12.63% of the outstanding WAL shares. In other words, the investor’s shares have fallen by -391,078 from its previous 13-F filing of 14063679.0. Additionally, The Vanguard Group, Inc. increased 3.99% of its stake after which the total value it holdings stand at $750,161,585, while Capital Research & Management Co added 0.03% of its stake to hold $469.86 million in the firm. Over the last quarter, Wellington Management Co. LLP purchased 880,430 shares of Western Alliance Bancorporation, while BlackRock Fund Advisors bought 685 shares. At present, SSgA Funds Management, Inc. is holding 2,857,144 shares valued at $232.49 million. William Blair Investment Manageme owned 2,784,853 shares of the company at the time of its most recent 13F filing, worth $226.6 million.

According to FactSet, Western Alliance Bancorporation’s share price will average $115.42 in the next year, based on opinions of analysts polled by the firm. This is up nearly 64.73 percent from its previous closing price of $69.81. Analysts expect Western Alliance Bancorporation stock to reach the higher price of $141.00, while the lowest price estimate is $100.00. However, 12 analysts have rated WAL stock as a Buy in their predictions for 2022.

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