Western Alliance Bancorp (NYSE:WAL) shares, rose in value on Friday, December 13, with the stock price down by -0.77% to the previous day’s close as strong demand from buyers drove the stock to $89.70.
Actively observing the price movement in the last trading, the stock closed the session at $90.40, falling within a range of $88.51 and $90.78. The value of beta (5-year monthly) was 1.435 whereas the PE ratio was 13.86 over 12-month period. Referring to stock’s 52-week performance, its high was $98.10, and the low was $53.75. On the whole, WAL has fluctuated by -3.37% over the past month.
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With the market capitalization of Western Alliance Bancorp currently standing at about $9.87 billion, investors are eagerly awaiting this quarter’s results, scheduled for in January. The company’s Forward Dividend Ratio is 1.49, with its dividend yield at 1.66%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 3.14B, with a low estimate of 767.07M and a high estimate of 821.2M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 806.44M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that WAL’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.33, with the price of WAL currently trading nearly -2.32% and 0.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.56, while the 7-day volatility ratio is showing 2.54% which for the 30-day chart, stands at 2.51%. Furthermore, Western Alliance Bancorp (WAL)’s beta value is 1.44, and its average true range (ATR) is 2.57.
A comparison of Western Alliance Bancorp (WAL) with its peers suggests the former has fared considerably weaker in the market. WAL showed an intraday change of -0.77% in last session, and over the past year, it grew by 47.95%%.
Data on historical trading for Western Alliance Bancorp (NYSE:WAL) indicates that the trading volumes over the past 10 days have averaged 0.57 and over the past 3 months, they’ve averaged 1.42 million. According to company’s latest data on outstanding shares, there are 110.07 million shares outstanding.
Nearly 1.51% of Western Alliance Bancorp’s shares belong to company insiders and institutional investors own 90.28% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.48 million shares as on 2024-11-29, resulting in a short ratio of 6.35. According to the data, the short interest in Western Alliance Bancorp (WAL) stood at 605.00 of shares outstanding as of 2024-11-29; the number of short shares registered in 2024-10-31 reached 6.4 million. The stock has risen by 36.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WAL stock heading into the next quarter.
