Western Alliance Bancorp (NYSE: WAL) stock jumped 0.34% on Monday to $49.50 against a previous-day closing price of $49.33. With 0.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.63 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $49.51 whereas the lowest price it dropped to was $48.51. The 52-week range on WAL shows that it touched its highest point at $81.17 and its lowest point at $7.46 during that stretch. It currently has a 1-year price target of $58.37. With its current market cap of 5.42 billion, WAL has annualized dividend of $1.44 while the current yield stands at 2.90%. Beta for the stock currently stands at 1.45.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WAL was up-trending over the past week, with a rise of 13.85%, but this was up by 17.24% over a month. Three-month performance surged to 5.16% while six-month performance rose 30.74%. The stock lost -29.10% in the past year, while it has lost -16.89% so far this year. A look at the trailing 12-month EPS for WAL yields 7.89 with Next year EPS estimates of 8.01. For the next quarter, that number is 1.85. This implies an EPS growth rate of -24.75% for this year and 9.78% for next year. EPS is expected to decline by -13.30% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 25.65%.
Float and Shares Shorts:
At present, 108.91 million WAL shares are outstanding with a float of 107.78 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.73 million, which was 5.23% higher than short shares on Sep 28, 2023. In addition to Mr. Kenneth A. Vecchione as the firm’s CEO, President & Director, Mr. Dale M. Gibbons serves as its Vice Chairman, Executive VP & CFO.
Through their ownership of 80.42% of WAL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.76% of WAL, in contrast to 43.31% held by mutual funds. Shares owned by individuals account for 39.23%. As the largest shareholder in WAL with 8.99% of the stake, The Vanguard Group, Inc. holds 9,848,381 shares worth 9,848,381. A second-largest stockholder of WAL, T. Rowe Price Associates, Inc., holds 5,155,951 shares, controlling over 4.71% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in WAL, holding 4,122,757 shares or 3.77% stake. With a 2.97% stake in WAL, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,253,960 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.45% of WAL stock, is the second-largest Mutual Fund holder. It holds 2,683,242 shares valued at 110.28 million. Vanguard Small Cap Value Index Fu holds 1.71% of the stake in WAL, owning 1,867,421 shares worth 76.75 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WAL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With WAL analysts setting a high price target of $65.00 and a low target of $41.00, the average target price over the next 12 months is $58.37. Based on these targets, WAL could surge 31.31% to reach the target high and fall by -17.17% to reach the target low. Reaching the average price target will result in a growth of 17.92% from current levels.
Summary of Insider Activity:
Insiders traded WAL stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 276 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 4,228,583 while 4,057,164 shares were sold.