Western Alliance Bancorporation (NYSE:WAL) has a beta value of 1.69 and has seen 0.32 million shares traded in the last trading session. The company, currently valued at $10.19B, closed the last trade at $97.51 per share which meant it lost -$0.31 on the day or -0.32% during that session. The WAL stock price is -12.64% off its 52-week high price of $109.84 and 68.89% above the 52-week low of $30.34. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.4 million shares traded. The 3-month trading volume is 679.14K shares.
The consensus among analysts is that Western Alliance Bancorporation (WAL) is a Buy stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 12 have rated it as a Hold, with 11 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $2.21.
Western Alliance Bancorporation (NYSE:WAL) trade information
Sporting -0.32% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 09/03/21 when the WAL stock price touched $97.51 or saw a rise of 3.25%. Year-to-date, Western Alliance Bancorporation shares have moved 62.65%, while the 5-day performance has seen it change -2.40%. Over the past 30 days, the shares of Western Alliance Bancorporation (NYSE:WAL) have changed 0.36%. Short interest in the company has seen 1.83 million shares shorted with days to cover at 3.02.
Wall Street analysts have a consensus price target for the stock at $120.42, which means that the shares’ value could jump 19.03% from current levels. The projected low price target is $110.00 while the price target rests at a high of $135.00. In that case, then, we find that the current price level is -38.45% off the targeted high while a plunge would see the stock gain -12.81% from current levels.
Western Alliance Bancorporation (WAL) estimates and forecasts
Figures show that Western Alliance Bancorporation shares have outperformed across the wider relevant industry. The company’s shares have gained 0.61% over the past 6 months, with this year growth rate of 68.65%, compared to 30.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 62.50% and 14.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 55.10%.
10 analysts offering their estimates for the company have set an average revenue estimate of $530.73 million for the current quarter. 10 have an estimated revenue figure of $535.97 million for the next quarter concluding in Dec 2021.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 19.90% over the past 5 years. Earnings growth for 2021 is a modest 4.10% while over the next 5 years, the company’s earnings are expected to increase by 8.00%.
Western Alliance Bancorporation is expected to release its next earnings report between October 20 and October 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.40 at a share yield of 1.44%. The company’s dividend yield has gone up over the past 12 months.
Western Alliance Bancorporation (NYSE:WAL)’s Major holders
Insiders own 2.80% of the company shares, while shares held by institutions stand at 94.87% with a share float percentage of 97.60%. Investors are also buoyed by the number of investors in a company, with Western Alliance Bancorporation having a total of 534 institutions that hold shares in the company. The top two institutional holders are Price (T.Rowe) Associates Inc with over 11.84 million shares worth more than $1.1 billion. As of Jun 29, 2021, Price (T.Rowe) Associates Inc held 11.36% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 8.55 million shares as of Jun 29, 2021. The firm’s total holdings are worth over $794.12 million and represent 8.21% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc. As of Mar 30, 2021, the former fund manager holds about 2.46% shares in the company for having 2.56 million shares of worth $242.06 million while later fund manager owns 2.36 million shares of worth $218.84 million as of Jun 29, 2021, which makes it owner of about 2.26% of company’s outstanding stock.