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Western Alliance Bancorp (NYSE: WAL): Today’s Most-Watched Stocks

In the last trading session, 1.35 million Western Alliance Bancorp (NYSE:WAL) shares changed hands as the company’s beta touched 1.48. With the company’s per share price at $62.77 changed hands at $1.2 or 1.95% during last session, the market valuation stood at $6.87B. WAL’s last price was a discount, traded about -22.51% off its 52-week high of $76.90. The share price had its 52-week low at $7.46, which suggests the last value was 88.12% up since then. When we look at Western Alliance Bancorp’s average trading volume, we note the 10-day average is 2.4 million shares, with the 3-month average coming to 0.89.

Western Alliance Bancorp (NYSE:WAL) trade information

Instantly WAL was in green as seen at the end of in last trading. With action 6.32%, the performance over the past five days has been green. The jump to weekly highs of 64.18 added 1.95% to the stock’s daily price. The company’s shares are showing year-to-date downside of -4.59%, with the 5-day performance at 6.32% in the green. However, in the 30-day time frame, Western Alliance Bancorp (NYSE:WAL) is -1.75% down. Looking at the short shares, we see there were 5.51 million shares sold at short interest cover period of 3.87 days.

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Western Alliance Bancorp (WAL) estimates and forecasts

Data shows that the Western Alliance Bancorp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 20.48% over the past 6 months, a 11.52% in annual growth rate that is considerably higher than the industry average of -9.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Western Alliance Bancorp will fall -26.10%, while the growth in revenue is estimated to hit -3.60% for the next quarter. Year-over-year growth is forecast to reach 12.80% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $699.7 million. 12 analysts are of the opinion that Western Alliance Bancorp’s revenue for the quarter ending Jun 2024 will be $730.51 million. The company’s revenue for the corresponding quarters a year ago was $721 million and $669.3 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.00%. The estimates for the next quarter sales put growth at 9.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 9.60%. The 2024 estimates are for Western Alliance Bancorp earnings to increase by 20.21%, but the outlook for the next 5-year period is at -13.30% per year.

WAL Dividends

Western Alliance Bancorp is expected to release its next quarterly earnings report between April 16 and April 22. The 2.31% annual yield figure for the share gives it an annual dividend of 1.45. It is important to note, however, that the 2.31% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Western Alliance Bancorp (NYSE:WAL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.49% of Western Alliance Bancorp shares while 86.32% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 87.62%. There are 86.32% institutions holding the Western Alliance Bancorp stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.08% of the shares, roughly 9.95 million WAL shares worth $362.78 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.94% or 5.41 million shares worth $197.32 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 3.23 million shares estimated at $117.81 million under it, the former controlled 2.95% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.45% of the shares, roughly 2.69 million shares worth around $97.95 million.

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