Western Alliance Bancorporation (WAL) Receives Daily Media Impact Score of 0.21
Media stories about Western Alliance Bancorporation (NYSE:WAL) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern scores the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Western Alliance Bancorporation earned a coverage optimism score of 0.21 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 46.5073209515294 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the media headlines that may have impacted Accern Sentiment’s rankings:
- Indiana Bank Near Top of ‘America’s Best Banks’ (insideindianabusiness.com)
- Walmart sending $700M to workers: $11 per hour starting pay, $1K bonuses after Trump tax cuts (bizjournals.com)
- SunTrust Banks Analysts Raise Earnings Estimates for Western Alliance Bancorporation (WAL) (americanbankingnews.com)
- Western Alliance #2 on Forbes 2018 “Best Banks in America” List (finance.yahoo.com)
- Forbes: One of America’s best banks is based in Arizona (finance.yahoo.com)
Several equities research analysts have commented on the stock. Barclays upped their price target on shares of Western Alliance Bancorporation from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $57.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, September 26th. Zacks Investment Research reaffirmed a “buy” rating and issued a $64.00 price target on shares of Western Alliance Bancorporation in a report on Saturday, January 6th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $62.00 price target (up from $54.00) on shares of Western Alliance Bancorporation in a report on Tuesday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $64.50 price target on shares of Western Alliance Bancorporation in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.94.
Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. Western Alliance Bancorporation had a net margin of 36.16% and a return on equity of 15.37%. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $212.27 million. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. research analysts predict that Western Alliance Bancorporation will post 3.07 EPS for the current year.
In other news, Director Marianne Boyd Johnson sold 4,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the sale, the director now directly owns 3,295 shares of the company’s stock, valued at approximately $179,313.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert Reoch Mcauslan sold 3,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $56.36, for a total transaction of $169,080.00. Following the sale, the executive vice president now directly owns 20,200 shares in the company, valued at $1,138,472. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,000 shares of company stock worth $9,780,670. Corporate insiders own 7.95% of the company’s stock.
About Western Alliance Bancorporation
Western Alliance Bancorporation is a bank holding company. The Company provides a range of deposit, lending, treasury management, international banking and online banking products and services through its banking subsidiary, Western Alliance Bank (WAB or the Bank). The Company’s regional segments include Arizona, Nevada, Southern California and Northern California, which provide banking and related services to their respective markets.
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