The price-to-earnings ratio for Western Alliance Bancorp (NYSE: WAL) is 11.57x, which is above its average ratio. Moreover, the 36-month beta value for WAL is 1.45. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for WAL is 108.34M and currently, short sellers hold a 4.66% of that float. On August 01, 2024, WAL’s average trading volume was 992.77K shares.
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WAL) stock’s latest price update
Western Alliance Bancorp (NYSE: WAL)’s stock price has gone decline by -4.47 in comparison to its previous close of 80.46, however, the company has experienced a -3.75% decrease in its stock price over the last five trading days. seekingalpha.com reported 2024-07-23 that WAL has outperformed the S&P 500 by 22% since my last buy rating. Loan portfolio and non-interest-bearing deposits grew in Q2 2024, leading to improved profitability. Further price appreciation is expected due to growth drivers, low P/TBV per share compared to historical values.
WAL’s Market Performance
Western Alliance Bancorp (WAL) has experienced a -3.75% fall in stock performance for the past week, with a 19.86% rise in the past month, and a 30.79% rise in the past quarter. The volatility ratio for the week is 3.89%, and the volatility levels for the past 30 days are at 4.03% for WAL. The simple moving average for the past 20 days is 6.22% for WAL’s stock, with a 29.10% simple moving average for the past 200 days.
Analysts’ Opinion of WAL
Many brokerage firms have already submitted their reports for WAL stocks, with Hovde Group repeating the rating for WAL by listing it as a “Outperform.” The predicted price for WAL in the upcoming period, according to Hovde Group is $75 based on the research report published on April 22, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see WAL reach a price target of $91. The rating they have provided for WAL stocks is “Overweight” according to the report published on March 08th, 2024.
Wells Fargo gave a rating of “Equal Weight” to WAL, setting the target price at $72 in the report published on January 30th of the current year.
WAL Trading at 17.18% from the 50-Day Moving Average
After a stumble in the market that brought WAL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.81% of loss for the given period.
Volatility was left at 4.03%, however, over the last 30 days, the volatility rate increased by 3.89%, as shares surge +21.77% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.95% upper at present.
During the last 5 trading sessions, WAL fell by -2.49%, which changed the moving average for the period of 200-days by +76.14% in comparison to the 20-day moving average, which settled at $73.06. In addition, Western Alliance Bancorp saw 16.83% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WAL starting from Ardrey J. Kelly Jr., who sale 2,116 shares at the price of $75.95 back on Jul 22 ’24. After this action, Ardrey J. Kelly Jr. now owns 3,520 shares of Western Alliance Bancorp, valued at $160,710 using the latest closing price.
Ardrey J. Kelly Jr., the Chief Accounting Officer of Western Alliance Bancorp, sale 1,000 shares at $64.20 during a trade that took place back on May 23 ’24, which means that Ardrey J. Kelly Jr. is holding 5,636 shares at $64,200 based on the most recent closing price.
Stock Fundamentals for WAL
Current profitability levels for the company are sitting at:
- 0.56 for the present operating margin
- 0.99 for the gross margin
The net margin for Western Alliance Bancorp stands at 0.18. The total capital return value is set at 0.05. Equity return is now at value 12.24, with 0.99 for asset returns.
Based on Western Alliance Bancorp (WAL), the company’s capital structure generated 0.51 points at debt to capital in total, while cash flow to debt ratio is standing at -0.07. The debt to equity ratio resting at 1.02. The interest coverage ratio of the stock is 2.11.
Currently, EBITDA for the company is 86.5 million with net debt to EBITDA at 44.47. When we switch over and look at the enterprise to sales, we see a ratio of 4.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.11.
Conclusion
To wrap up, the performance of Western Alliance Bancorp (WAL) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
