During the last session, Western Alliance Bancorporation (NYSE:WAL)’s traded shares were 3.31 million, with the beta value of the company hitting 1.37. At the end of the trading day, the stock’s price was $36.35, reflecting an intraday loss of -2.78% or -$1.04. The 52-week high for the WAL share is $86.87, that puts it down -138.98 from that peak though still a striking 79.48% gain since the share price plummeted to a 52-week low of $7.46. The company’s market capitalization is $4.08B, and the average intraday trading volume over the past 10 days was 7.52 million shares, and the average trade volume was 11.52 million shares over the past three months.
Western Alliance Bancorporation (WAL) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.70. WAL has a Sell rating from 0 analyst(s) out of 15 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 14 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.02.
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Western Alliance Bancorporation (NYSE:WAL) trade information
Western Alliance Bancorporation (WAL) registered a -2.78% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.78% in intraday trading to $36.35 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 4.42%, and it has moved by -3.71% in 30 days. Based on these gigs, the overall price performance for the year is -52.60%. The short interest in Western Alliance Bancorporation (NYSE:WAL) is 9.4 million shares and it means that shorts have 1.58 day(s) to cover.
The consensus price target of analysts on Wall Street is $57.03, which implies an increase of 36.26% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $32.00 and $71.00 respectively. As a result, WAL is trading at a discount of -95.32% off the target high and 11.97% off the low.
Western Alliance Bancorporation (WAL) estimates and forecasts
Statistics show that Western Alliance Bancorporation has underperformed its competitors in share price, compared to the industry in which it operates. Western Alliance Bancorporation (WAL) shares have gone down -46.28% during the last six months, with a year-to-date growth rate less than the industry average at -15.15% against -7.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -15.50% this quarter and then drop -19.00% in the quarter after that. In the rating firms’ projections, revenue will increase 6.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $660.81 million as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $661.4 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $620 million and $687.38 million respectively. In this case, analysts expect current quarter sales to grow by 6.60% and then drop by -3.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 26.50%. While earnings are projected to return 12.00% in 2023, the next five years will return -13.30% per annum.
Western Alliance Bancorporation is due to release its next quarterly earnings between July 19 and July 24. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Western Alliance Bancorporation is 1.44, with the dividend yield indicating at 3.96 percent, continuing the trend of increasing dividends in recent years.
Western Alliance Bancorporation (NYSE:WAL)’s Major holders
Western Alliance Bancorporation insiders own 2.85% of total outstanding shares while institutional holders control 91.10%, with the float percentage being 93.77%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 499 institutions own stock in it. As of Mar 30, 2023, the company held over 10.17 million shares (or 9.28% of all shares), a total value of $361.34 million in shares.
The next largest institutional holding, with 6.12 million shares, is of Capital International Investors’s that is approximately 5.59% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $217.51 million.
Also, the Mutual Funds coming in first place with the largest holdings of Western Alliance Bancorporation (WAL) shares are Growth Fund Of America Inc and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that Growth Fund Of America Inc owns about 3.54 million shares. This amounts to just over 3.23 percent of the company’s overall shares, with a $125.97 million market value. The same data shows that the other fund manager holds slightly less at 3.15 million, or about 2.88% of the stock, which is worth about $187.82 million.