The EC of Western Alliance (NYSE: WAL) is Buying Shares

By Carrie Williams

Yesterday, the EC of Western Alliance (WALResearch Report), Robert Gary Sarver, bought shares of WAL for $5M.

This is Sarver’s first Buy trade following 37 Sell transactions. Following this transaction Robert Gary Sarver’s holding in the company was increased by 22.17% to a total of $108 million.

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Based on Western Alliance’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $458 million and quarterly net profit of $224 million. In comparison, last year the company earned revenue of $313 million and had a net profit of $93.3 million. The company has a one-year high of $109.84 and a one-year low of $30.34. Currently, Western Alliance has an average volume of 919.95K.

Starting in April 2021, WAL received 16 Buy ratings in a row. Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $116.80, reflecting a -15.5% downside. Five different firms, including Piper Sandler and RBC Capital, currently also have a Buy rating on the stock.

The insider sentiment on Western Alliance has been negative according to 49 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Robert Gary Sarver’s trades have generated a -15.1% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Western Alliance Bancorporation is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services for businesses. It operates through the following business segments: Homeowners Association (HOA) Services; Hotel Franchise Finance (HFF); Public & Nonprofit Finance; Technology and Innovation; Other NBL (National Business Lines); and Corporate and Other. The company was founded in 1995 and is headquartered in Phoenix, AZ.