Western Alliance Bancorporation (NYSE:WAL) has tumbled 6.71% during the past week and has dropped 5.59% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.59%. Western Alliance Bancorporation (NYSE:WAL) has underperformed the index by 6.45% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Western Alliance Bancorporation (NYSE:WAL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.64 and $33.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.78, notching a gain of 0.66% for the day. The total traded volume was 2,229,829 . The stock had closed at $33.56 on the previous day.
The company shares have dropped -1.54% from its 1 Year high price. On Nov 11, 2015, the shares registered one year high at $39.11 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $35.75 and the 200 Day Moving Average price is recorded at $33.83.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Johnson Marianne Boyd, director of Western Alliance Bancorporation, had unloaded 5,000 shares at an average price of $37.76 in a transaction dated on June 7, 2016. The total value of the transaction was worth $188,800.
Many analysts have stated their opinion on the company shares. Keefe Bruyette & Woods upgrades its view on Western Alliance Bancorporation (NYSE:WAL) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Market Outperform. Keefe Bruyette & Woods raises the price target from $38 per share to $41 per share on Western Alliance Bancorporation. The rating by the firm was issued on March 30, 2016. Currently the company Insiders own 10.27% of Western Alliance Bancorporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -10.63% . Institutional Investors own 80.95% of Western Alliance Bancorporation shares. During last six month period, the net percent change held by insiders has seen a change of -10.88%.
Western Alliance Bancorporation (WAL) is a bank holding company. The Company provides a range of deposits, lending, treasury management, and online banking products and services through its banking subsidiary, Western Alliance Bank (the Bank). The Companys segments are Arizona, Nevada, Southern California, Northern California, Central Business Line (CBL) and Corporate & Other. Its Arizona, Nevada, and California segments provide full-service banking and related services to their respective markets. It provides a range of financial services to customers, including commercial real estate (CRE) loans, construction and land development loans, commercial loans and consumer loans, through the Bank and its banking divisions, and operating subsidiaries. It offers a range of deposit products, including checking accounts, money market accounts and other types of deposit accounts, such as fixed-rate and fixed maturity retail certificates of deposit.