Western Alliance Bancorporation (NYSE:WAL) Short Interest Down 12.5% in July
Western Alliance Bancorporation (NYSE:WAL) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,560,300 shares, a decrease of 12.5% from the June 15th total of 1,783,600 shares. Based on an average daily volume of 728,900 shares, the short-interest ratio is presently 2.1 days. Approximately 1.6% of the company’s stock are short sold.
Shares of WAL stock traded down $0.58 during trading on Tuesday, reaching $49.17. 1,576 shares of the company’s stock traded hands, compared to its average volume of 691,632. The company has a market capitalization of $5.19 billion, a P/E ratio of 11.93, a P/E/G ratio of 0.92 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average price of $44.89. Western Alliance Bancorporation has a 1 year low of $37.39 and a 1 year high of $60.01.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.03. The company had revenue of $267.30 million for the quarter, compared to analysts’ expectations of $274.37 million. Western Alliance Bancorporation had a net margin of 39.87% and a return on equity of 18.18%. Western Alliance Bancorporation’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. Equities research analysts forecast that Western Alliance Bancorporation will post 4.76 EPS for the current year.
A number of institutional investors have recently bought and sold shares of WAL. Davis Capital Partners LLC increased its holdings in Western Alliance Bancorporation by 200.0% during the 1st quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock worth $61,560,000 after acquiring an additional 1,000,000 shares during the period. Norges Bank bought a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $33,692,000. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Western Alliance Bancorporation by 73.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 921,950 shares of the financial services provider’s stock worth $37,837,000 after acquiring an additional 389,640 shares during the period. Deutsche Bank AG increased its holdings in Western Alliance Bancorporation by 74.3% during the 4th quarter. Deutsche Bank AG now owns 430,322 shares of the financial services provider’s stock worth $16,990,000 after acquiring an additional 183,412 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Western Alliance Bancorporation by 16.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,167,136 shares of the financial services provider’s stock worth $47,899,000 after acquiring an additional 161,093 shares during the period. 82.84% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating on shares of WNS in a research report on Tuesday, July 16th. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co boosted their target price on shares of Twitter from $33.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.00.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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