Taking a Closer Look At Western Alliance Bancorporation (WAL) Following Its Recent Trade


Western Alliance Bancorporation’s recently made public that its CBO for Regional Banking Bruckner Tim R unloaded Company’s shares for reported $0.13 million on Feb 21. In the deal valued at $73.16 per share,1,750 shares were sold. As a result of this transaction, Bruckner Tim R now holds 20,244 shares worth roughly $ 1.5 million.

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Then, Ardrey J. Kelly Jr. sold 3,000 shares, generating $241,770 in total proceeds. Upon selling the shares at $80.59, the Chief Accounting Officer now owns 4,819 shares.

Before that, SNYDER DONALD D sold 4,500 shares. Western Alliance Bancorporation shares valued at $352,620 were divested by the Director at a price of $78.36 per share. As a result of the transaction, SNYDER DONALD D now holds 94,359 shares, worth roughly $7.01 million.

JP Morgan initiated its Western Alliance Bancorporation [WAL] rating to a Neutral in a research note published on Monday, October 06, 2022; the price target was $85. PT values the company’s stock at a premium of 12.58 to its Monday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who decreased its forecast for the stock in late June from “an Outperform” to “a Neutral”. BofA Securities began covering WAL with “Buy” recommendation on October 18, 2021.

Price Performance Review of WAL

On Monday, Western Alliance Bancorporation [NYSE:WAL] saw its stock jump 0.66% to $74.31. On the same session, the stock had its day’s lowest price of $73.66, but rose to a high of $75.04. Over the last five days, the stock has lost -0.31%. Western Alliance Bancorporation shares have risen nearly 24.76% since the year began. Nevertheless, the stocks have fallen -17.62% over the past one year. While a 52-week high of $94.57 was reached on 02/02/23, a 52-week low of $54.86 was recorded on 01/03/23. SMA at 50 days reached $67.47, while 200 days put it at $71.28. A total of 0.83 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For WAL Stock

The 24-hour chart illustrates a support level at 73.63, which if violated will result in even more drops to 72.96. On the upside, there is a resistance level at 75.01. A further resistance level may holdings at 75.72. The Relative Strength Index (RSI) on the 14-day chart is 55.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.10%. Stochastics %K at 32.21% indicates the stock is a holding.

How much short interest is there in Western Alliance Bancorporation?

A steep rise in short interest was recorded in Western Alliance Bancorporation stocks on Jan 12, 2023, growing by 1.92 million shares to a total of 3.3 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 1.38 million shares. There was a rise of 58.18%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.58% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.59.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,927,387 shares, or roughly 9.12% of the outstanding WAL shares. In other words, the investor’s shares have risen by 178,680 from its previous 13-F filing of 9748707.0. Additionally, Capital Research & Management Co decreased -14.79% of its stake after which the total value it holdings stand at $498,758,412, while T. Rowe Price Associates, Inc. reduced -27.99% of its stake to hold $479.42 million in the firm. Over the last quarter, T. Rowe Price Investment Manageme purchased 402,614 shares of Western Alliance Bancorporation, while BlackRock Fund Advisors bought 194,330 shares. At present, ClearBridge Investments LLC is holding 3,183,508 shares valued at $239.94 million. Thrivent Asset Management LLC owned 2,833,374 shares of the company at the time of its most recent 13F filing, worth $213.55 million.

According to FactSet, Western Alliance Bancorporation’s share price will average $84.54 in the next year, based on opinions of analysts polled by the firm. This is up nearly 15.14 percent from its previous closing price of $73.82. Analysts expect Western Alliance Bancorporation stock to reach the higher price of $96.00, while the lowest price estimate is $70.00. However, 13 analysts have rated WAL stock as a Buy in their predictions for 2023.


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