The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Western Alliance Bancorp shares valued at $239,710 were sold by LATTA ROBERT P on Sep 13 ’24. At $81.12 per share, LATTA ROBERT P sold 2,955 shares. The insider’s holdings dropped to 38,621 shares worth approximately $3.63 million following the completion of this transaction.
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Also, ROBERT P. LATTA purchased 2,955 shares, netting a total of over 239,695 in proceeds.
Before that, LATTA ROBERT P had sold 2,996 shares from its account. In a trade valued at $247,919, the Director traded Western Alliance Bancorp shares for $82.75 each. Upon closing the transaction, the insider’s holdings decreased to 2,996 shares, worth approximately $0.38 million.
As published in a research note from Deutsche Bank on October 07, 2024, Western Alliance Bancorp [WAL] has been rated up from a Hold to a Buy and the price target has been revised to $101 from $83. As of March 08, 2024, Barclays has initiated its “an Overweight” rating for WAL. Earlier on January 30, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for WAL stock which previously was a “an Overweight”.
Analyzing WAL Stock Performance
During the last five days, there has been a surge of approximately 9.94%. Over the course of the year, Western Alliance Bancorp shares have jumped approximately 42.76%. Shares of the company reached a 52-week high of $94.28 on 10/17/24 and a 52-week low of $53.75 on 04/19/24. A 50-day SMA is recorded $82.20, while a 200-day SMA reached $67.71. Nevertheless, trading volume fell to 2.23 million shares from 1.41 million shares the previous day.
Support And Resistance Levels for Western Alliance Bancorp (WAL)
According to the 24-hour chart, there is a support level at 91.57, which, if violated, would cause prices to drop to 89.22. In the upper region, resistance lies at 95.28. The next price resistance is at 96.63. RSI (Relative Strength Index) is 74.08 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.47, which suggests the price will increase in the coming days. Percent R is at 2.88%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
