Western Alliance Bancorporation (WAL) is Initiated by Wells Fargo to Market Perform

Western Alliance Bancorporation (WAL) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their investors in a research report released on Sep 1, 2016.

On the company’s financial health, Western Alliance Bancorporation reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.56. The company had revenue of $157.80 million for the quarter, compared to analysts expectations of $159.04 million. The company’s revenue was up 45.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Western Alliance Bancorporation opened for trading at $37.62 and hit $37.86 on the upside on Monday, eventually ending the session at $37.64, with a gain of 0.40% or 0.15 points. The heightened volatility saw the trading volume jump to 7,15,272 shares. Company has a market cap of $3,955 M.

In a different news, on Aug 29, 2016, Gerald A Cady (EVP, So. CA Administration) sold 5,000 shares at $36.78 per share price. According to the SEC, on Aug 29, 2016, Bruce D Beach (director) sold 5,000 shares at $36.88 per share price. On Aug 22, 2016, James Harwood Iii Lundy (EVP, Arizona Administration) sold 7,000 shares at $36.34 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

Western Alliance Bancorporation

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